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<!--Created by Sturnis 365, Powered by IRIS Carbon, Unique Code 6246cfa454148f6a2028d5a9, Generated At Fri, 01 Apr 2022 10:14:13 GMT-->
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfFinancialPositionAbstract" xml:lang="nl" id="label_StatementOfFinancialPositionAbstract">Overzicht van de financiële positie [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="label_StatementOfFinancialPositionAbstract" xlink:title="Label : StatementOfFinancialPositionAbstract to label_StatementOfFinancialPositionAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:label="StatementOfComprehensiveIncomeAbstract" xlink:title="StatementOfComprehensiveIncomeAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfComprehensiveIncomeAbstract" xml:lang="nl" id="label_StatementOfComprehensiveIncomeAbstract">Overzicht van het totaalresultaat [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfComprehensiveIncomeAbstract" xlink:to="label_StatementOfComprehensiveIncomeAbstract" xlink:title="Label : StatementOfComprehensiveIncomeAbstract to label_StatementOfComprehensiveIncomeAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfCashFlowsAbstract" xml:lang="nl" id="label_StatementOfCashFlowsAbstract">Kasstroomoverzicht, aanvullende informatieverschaffing [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfCashFlowsAbstract" xlink:to="label_StatementOfCashFlowsAbstract" xlink:title="Label : StatementOfCashFlowsAbstract to label_StatementOfCashFlowsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="StatementOfChangesInEquityAbstract" xlink:title="StatementOfChangesInEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfChangesInEquityAbstract" xml:lang="nl" id="label_StatementOfChangesInEquityAbstract">Mutatieoverzicht van het eigen vermogen [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityAbstract" xlink:to="label_StatementOfChangesInEquityAbstract" xlink:title="Label : StatementOfChangesInEquityAbstract to label_StatementOfChangesInEquityAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="StatementOfChangesInEquityTable" xlink:title="StatementOfChangesInEquityTable" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfChangesInEquityTable" xml:lang="nl" id="label_StatementOfChangesInEquityTable">Mutatieoverzicht van het eigen vermogen [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityTable" xlink:to="label_StatementOfChangesInEquityTable" xlink:title="Label : StatementOfChangesInEquityTable to label_StatementOfChangesInEquityTable" />
    <link:loc xlink:type="locator" xlink:href="http://www.esma.europa.eu/taxonomy/2020-03-16/esef_cor.xsd#esef_cor_LineItemsNotDimensionallyQualifiedPlaceholder" xlink:label="LineItemsNotDimensionallyQualifiedPlaceholder" xlink:title="LineItemsNotDimensionallyQualifiedPlaceholder" />
    <link:label xlink:type="resource" xlink:label="label_LineItemsNotDimensionallyQualifiedPlaceholder" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LineItemsNotDimensionallyQualifiedPlaceholder" xml:lang="nl" id="label_LineItemsNotDimensionallyQualifiedPlaceholder">Posten die niet dimensionaal zijn gekwalificeerd</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineItemsNotDimensionallyQualifiedPlaceholder" xlink:to="label_LineItemsNotDimensionallyQualifiedPlaceholder" xlink:title="Label : LineItemsNotDimensionallyQualifiedPlaceholder to label_LineItemsNotDimensionallyQualifiedPlaceholder" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InterestRevenueExpense" xlink:label="InterestRevenueExpense" xlink:title="InterestRevenueExpense" />
    <link:label xlink:type="resource" xlink:label="label_InterestRevenueExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestRevenueExpense" xml:lang="nl" id="label_InterestRevenueExpense">Rentebaten (-lasten);</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRevenueExpense" xlink:to="label_InterestRevenueExpense" xlink:title="Label : InterestRevenueExpense to label_InterestRevenueExpense" />
    <link:label xlink:type="resource" xlink:label="label_InterestRevenueExpense_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_InterestRevenueExpense_1" xml:lang="nl" id="label_InterestRevenueExpense_1">Nettorente-inkomsten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRevenueExpense" xlink:to="label_InterestRevenueExpense_1" xlink:title="Label : InterestRevenueExpense to label_InterestRevenueExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RevenueFromDividends" xlink:label="RevenueFromDividends" xlink:title="RevenueFromDividends" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueFromDividends" xml:lang="nl" id="label_RevenueFromDividends">Dividendinkomsten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromDividends" xlink:to="label_RevenueFromDividends" xlink:title="Label : RevenueFromDividends to label_RevenueFromDividends" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromDividends_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueFromDividends_1" xml:lang="nl" id="label_RevenueFromDividends_1">Dividendinkomsten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromDividends" xlink:to="label_RevenueFromDividends_1" xlink:title="Label : RevenueFromDividends to label_RevenueFromDividends_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FeeAndCommissionIncomeExpense" xlink:label="FeeAndCommissionIncomeExpense" xlink:title="FeeAndCommissionIncomeExpense" />
    <link:label xlink:type="resource" xlink:label="label_FeeAndCommissionIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FeeAndCommissionIncomeExpense" xml:lang="nl" id="label_FeeAndCommissionIncomeExpense">Vergoedings- en provisiebaten (-lasten)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionIncomeExpense" xlink:to="label_FeeAndCommissionIncomeExpense" xlink:title="Label : FeeAndCommissionIncomeExpense to label_FeeAndCommissionIncomeExpense" />
    <link:label xlink:type="resource" xlink:label="label_FeeAndCommissionIncomeExpense_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_FeeAndCommissionIncomeExpense_1" xml:lang="nl" id="label_FeeAndCommissionIncomeExpense_1">Nettoprovisie-inkomsten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionIncomeExpense" xlink:to="label_FeeAndCommissionIncomeExpense_1" xlink:title="Label : FeeAndCommissionIncomeExpense to label_FeeAndCommissionIncomeExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FeeAndCommissionIncome" xlink:label="FeeAndCommissionIncome" xlink:title="FeeAndCommissionIncome" />
    <link:label xlink:type="resource" xlink:label="label_FeeAndCommissionIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FeeAndCommissionIncome" xml:lang="nl" id="label_FeeAndCommissionIncome">Vergoedings- en provisiebaten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionIncome" xlink:to="label_FeeAndCommissionIncome" xlink:title="Label : FeeAndCommissionIncome to label_FeeAndCommissionIncome" />
    <link:label xlink:type="resource" xlink:label="label_FeeAndCommissionIncome_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FeeAndCommissionIncome_1" xml:lang="nl" id="label_FeeAndCommissionIncome_1">Provisie-inkomsten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionIncome" xlink:to="label_FeeAndCommissionIncome_1" xlink:title="Label : FeeAndCommissionIncome to label_FeeAndCommissionIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FeeAndCommissionExpense" xlink:label="FeeAndCommissionExpense" xlink:title="FeeAndCommissionExpense" />
    <link:label xlink:type="resource" xlink:label="label_FeeAndCommissionExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FeeAndCommissionExpense" xml:lang="nl" id="label_FeeAndCommissionExpense">Vergoedings- en provisielasten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionExpense" xlink:to="label_FeeAndCommissionExpense" xlink:title="Label : FeeAndCommissionExpense to label_FeeAndCommissionExpense" />
    <link:label xlink:type="resource" xlink:label="label_FeeAndCommissionExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_FeeAndCommissionExpense_1" xml:lang="nl" id="label_FeeAndCommissionExpense_1">Provisielasten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FeeAndCommissionExpense" xlink:to="label_FeeAndCommissionExpense_1" xlink:title="Label : FeeAndCommissionExpense to label_FeeAndCommissionExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="DepreciationAndAmortisationExpense" xlink:title="DepreciationAndAmortisationExpense" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationAndAmortisationExpense" xml:lang="nl" id="label_DepreciationAndAmortisationExpense">Afschrijvingskosten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortisationExpense" xlink:to="label_DepreciationAndAmortisationExpense" xlink:title="Label : DepreciationAndAmortisationExpense to label_DepreciationAndAmortisationExpense" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationAndAmortisationExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DepreciationAndAmortisationExpense_1" xml:lang="nl" id="label_DepreciationAndAmortisationExpense_1">Afschrijvingen vaste activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortisationExpense" xlink:to="label_DepreciationAndAmortisationExpense_1" xlink:title="Label : DepreciationAndAmortisationExpense to label_DepreciationAndAmortisationExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:label="GeneralAndAdministrativeExpense" xlink:title="GeneralAndAdministrativeExpense" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GeneralAndAdministrativeExpense" xml:lang="nl" id="label_GeneralAndAdministrativeExpense">Algemene en beheerskosten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="label_GeneralAndAdministrativeExpense" xlink:title="Label : GeneralAndAdministrativeExpense to label_GeneralAndAdministrativeExpense" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_GeneralAndAdministrativeExpense_1" xml:lang="nl" id="label_GeneralAndAdministrativeExpense_1">Algemene beheerskosten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="label_GeneralAndAdministrativeExpense_1" xlink:title="Label : GeneralAndAdministrativeExpense to label_GeneralAndAdministrativeExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="EmployeeBenefitsExpense" xlink:title="EmployeeBenefitsExpense" />
    <link:label xlink:type="resource" xlink:label="label_EmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EmployeeBenefitsExpense" xml:lang="nl" id="label_EmployeeBenefitsExpense">Lasten uit hoofde van personeelsbeloningen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeBenefitsExpense" xlink:to="label_EmployeeBenefitsExpense" xlink:title="Label : EmployeeBenefitsExpense to label_EmployeeBenefitsExpense" />
    <link:label xlink:type="resource" xlink:label="label_EmployeeBenefitsExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_EmployeeBenefitsExpense_1" xml:lang="nl" id="label_EmployeeBenefitsExpense_1">Personeelskosten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeBenefitsExpense" xlink:to="label_EmployeeBenefitsExpense_1" xlink:title="Label : EmployeeBenefitsExpense to label_EmployeeBenefitsExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OperatingExpense" xlink:label="OperatingExpense" xlink:title="OperatingExpense" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingExpense" xml:lang="nl" id="label_OperatingExpense">Exploitatielasten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense" xlink:to="label_OperatingExpense" xlink:title="Label : OperatingExpense to label_OperatingExpense" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_OperatingExpense_1" xml:lang="nl" id="label_OperatingExpense_1">Exploitatiekosten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpense" xlink:to="label_OperatingExpense_1" xlink:title="Label : OperatingExpense to label_OperatingExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Revenue" xlink:label="Revenue" xlink:title="Revenue" />
    <link:label xlink:type="resource" xlink:label="label_Revenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Revenue" xml:lang="nl" id="label_Revenue">Opbrengsten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenue" xlink:to="label_Revenue" xlink:title="Label : Revenue to label_Revenue" />
    <link:label xlink:type="resource" xlink:label="label_Revenue_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Revenue_1" xml:lang="nl" id="label_Revenue_1">TOTALE OPBRENGSTEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenue" xlink:to="label_Revenue_1" xlink:title="Label : Revenue to label_Revenue_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherIncome" xlink:label="OtherIncome" xlink:title="OtherIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherIncome" xml:lang="nl" id="label_OtherIncome">Andere baten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherIncome" xlink:to="label_OtherIncome" xlink:title="Label : OtherIncome to label_OtherIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherIncome_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherIncome_1" xml:lang="nl" id="label_OtherIncome_1">Overige netto-inkomsten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherIncome" xlink:to="label_OtherIncome_1" xlink:title="Label : OtherIncome to label_OtherIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" xlink:label="ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" xlink:title="ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" xml:lang="nl" id="label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9">Bijzonderewaardeverminderingsverlies (bijzonderewaardeverminderingswinst en terugneming van bijzonderewaardeverminderingsverlies) bepaald in overeenstemming met IFRS 9</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" xlink:to="label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" xlink:title="Label : ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9 to label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9_1" xml:lang="nl" id="label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9_1">Bijzondere waardeverminderingen op financiële activa tegen geamortiseerde kostprijs en tegen reële waarde via OCI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" xlink:to="label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9_1" xlink:title="Label : ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9 to label_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DilutedEarningsLossPerShare" xlink:label="DilutedEarningsLossPerShare" xlink:title="DilutedEarningsLossPerShare" />
    <link:label xlink:type="resource" xlink:label="label_DilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DilutedEarningsLossPerShare" xml:lang="nl" id="label_DilutedEarningsLossPerShare">Verwaterde winst (verlies) per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShare" xlink:to="label_DilutedEarningsLossPerShare" xlink:title="Label : DilutedEarningsLossPerShare to label_DilutedEarningsLossPerShare" />
    <link:label xlink:type="resource" xlink:label="label_DilutedEarningsLossPerShare_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DilutedEarningsLossPerShare_1" xml:lang="nl" id="label_DilutedEarningsLossPerShare_1">Verwaterd</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShare" xlink:to="label_DilutedEarningsLossPerShare_1" xlink:title="Label : DilutedEarningsLossPerShare to label_DilutedEarningsLossPerShare_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BasicEarningsLossPerShare" xlink:label="BasicEarningsLossPerShare" xlink:title="BasicEarningsLossPerShare" />
    <link:label xlink:type="resource" xlink:label="label_BasicEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BasicEarningsLossPerShare" xml:lang="nl" id="label_BasicEarningsLossPerShare">Gewone winst (verlies) per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicEarningsLossPerShare" xlink:to="label_BasicEarningsLossPerShare" xlink:title="Label : BasicEarningsLossPerShare to label_BasicEarningsLossPerShare" />
    <link:label xlink:type="resource" xlink:label="label_BasicEarningsLossPerShare_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BasicEarningsLossPerShare_1" xml:lang="nl" id="label_BasicEarningsLossPerShare_1">Gewoon</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicEarningsLossPerShare" xlink:to="label_BasicEarningsLossPerShare_1" xlink:title="Label : BasicEarningsLossPerShare to label_BasicEarningsLossPerShare_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:label="IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:title="IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xml:lang="nl" id="label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent">Baten uit hoofde van beëindigde bedrijfsactiviteiten toe te rekenen aan eigenaars van de moedermaatschappij</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:to="label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:title="Label : IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent to label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_1" xml:lang="nl" id="label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_1">Waarvan m.b.t. beëindigde bedrijfsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:to="label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_1" xlink:title="Label : IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent to label_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ProfitLossAttributableToOwnersOfParent" xlink:title="ProfitLossAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossAttributableToOwnersOfParent" xml:lang="nl" id="label_ProfitLossAttributableToOwnersOfParent">Winst (verlies), toe te rekenen aan eigenaars van de moedermaatschappij</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToOwnersOfParent" xlink:to="label_ProfitLossAttributableToOwnersOfParent" xlink:title="Label : ProfitLossAttributableToOwnersOfParent to label_ProfitLossAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToOwnersOfParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossAttributableToOwnersOfParent_1" xml:lang="nl" id="label_ProfitLossAttributableToOwnersOfParent_1">Toerekenbaar aan de aandeelhouders van de moedermaatschappij</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToOwnersOfParent" xlink:to="label_ProfitLossAttributableToOwnersOfParent_1" xlink:title="Label : ProfitLossAttributableToOwnersOfParent to label_ProfitLossAttributableToOwnersOfParent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xlink:label="ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xlink:title="ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xml:lang="nl" id="label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests">Winst (verlies) uit hoofde van beëindigde bedrijfsactiviteiten toe te rekenen aan belangen zonder zeggenschap</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xlink:to="label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xlink:title="Label : ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests to label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests_1" xml:lang="nl" id="label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests_1">Waarvan m.b.t. beëindigde bedrijfsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xlink:to="label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests_1" xlink:title="Label : ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests to label_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ProfitLossAttributableToNoncontrollingInterests" xlink:title="ProfitLossAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossAttributableToNoncontrollingInterests" xml:lang="nl" id="label_ProfitLossAttributableToNoncontrollingInterests">Winst (verlies), toe te rekenen aan belangen zonder zeggenschap</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToNoncontrollingInterests" xlink:to="label_ProfitLossAttributableToNoncontrollingInterests" xlink:title="Label : ProfitLossAttributableToNoncontrollingInterests to label_ProfitLossAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossAttributableToNoncontrollingInterests_1" xml:lang="nl" id="label_ProfitLossAttributableToNoncontrollingInterests_1">Toerekenbaar aan minderheidsbelangen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToNoncontrollingInterests" xlink:to="label_ProfitLossAttributableToNoncontrollingInterests_1" xlink:title="Label : ProfitLossAttributableToNoncontrollingInterests to label_ProfitLossAttributableToNoncontrollingInterests_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:label="ProfitLossFromDiscontinuedOperations" xlink:title="ProfitLossFromDiscontinuedOperations" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossFromDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossFromDiscontinuedOperations" xml:lang="nl" id="label_ProfitLossFromDiscontinuedOperations">Winst (verlies) uit hoofde van beëindigde bedrijfsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossFromDiscontinuedOperations" xlink:to="label_ProfitLossFromDiscontinuedOperations" xlink:title="Label : ProfitLossFromDiscontinuedOperations to label_ProfitLossFromDiscontinuedOperations" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossFromDiscontinuedOperations_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossFromDiscontinuedOperations_1" xml:lang="nl" id="label_ProfitLossFromDiscontinuedOperations_1">Nettoresultaat na belastingen uit beëindigde bedrijfsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossFromDiscontinuedOperations" xlink:to="label_ProfitLossFromDiscontinuedOperations_1" xlink:title="Label : ProfitLossFromDiscontinuedOperations to label_ProfitLossFromDiscontinuedOperations_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="IncomeTaxExpenseContinuingOperations" xlink:title="IncomeTaxExpenseContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxExpenseContinuingOperations" xml:lang="nl" id="label_IncomeTaxExpenseContinuingOperations">Belastinglasten (-baten)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxExpenseContinuingOperations_1" xml:lang="nl" id="label_IncomeTaxExpenseContinuingOperations_1">Belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations_1" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:title="ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xml:lang="nl" id="label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">Aandeel in de winst (het verlies) van geassocieerde deelnemingen en joint ventures, administratief verwerkt volgens de vermogensmutatiemethode</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:title="Label : ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod to label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_1" xml:lang="nl" id="label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_1">Aandeel in het resultaat van geassocieerde ondernemingen en joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_1" xlink:title="Label : ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod to label_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax" xlink:label="OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax" xlink:title="OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax" xml:lang="nl" id="label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax">Andere componenten die afzonderlijk niet van materieel belang zijn van de overige onderdelen van het totaalresultaat, na belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax" xlink:to="label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax" xlink:title="Label : OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax to label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax_1" xml:lang="nl" id="label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax_1">Overige mutaties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax" xlink:to="label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax_1" xlink:title="Label : OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax to label_OtherIndividuallyImmaterialComponentsOfOtherComprehensiveIncomeNetOfTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:label="IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:title="IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xml:lang="nl" id="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss">Winstbelastingen met betrekking tot het aandeel in de overige onderdelen van het totaalresultaat van geassocieerde deelnemingen en joint ventures die administratief werden verwerkt volgens de vermogensmutatiemethode en zullen worden geherclassificeerd naar winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:to="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:title="Label : IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss to label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss_1" xml:lang="nl" id="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss_1">Uitgestelde belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:to="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss_1" xlink:title="Label : IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss to label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:label="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:title="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax" xml:lang="nl" id="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax">Aandeel in de overige onderdelen van het totaalresultaat van geassocieerde deelnemingen en joint ventures die administratief werden verwerkt volgens de vermogensmutatiemethode en zullen worden geherclassificeerd naar winst of verlies, vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:title="Label : ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax to label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax_1" xml:lang="nl" id="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax_1">Brutobedrag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax_1" xlink:title="Label : ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax to label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:label="ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:title="ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xml:lang="nl" id="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax">Herclassificatieaanpassingen uit hoofde van afdekkingen van netto-investeringen in buitenlandse bedrijfsactiviteiten, vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:title="Label : ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax to label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1" xml:lang="nl" id="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1">Brutobedrag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1" xlink:title="Label : ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax to label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome" xlink:label="IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome" xlink:title="IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome" xml:lang="nl" id="label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome">Winstbelastingen met betrekking tot afdekkingen van netto-investeringen in buitenlandse bedrijfsactiviteiten opgenomen in de overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome" xlink:title="Label : IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome to label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome_1" xml:lang="nl" id="label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome_1">Uitgestelde belastingen op wijzigingen van de reële waarde</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome_1" xlink:title="Label : IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome to label_IncomeTaxRelatingToHedgesOfNetInvestmentsInForeignOperationsOfOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:label="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:title="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xml:lang="nl" id="label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax">Winsten (verliezen) uit hoofde van afdekkingen van netto-investeringen in buitenlandse bedrijfsactiviteiten, vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:to="label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:title="Label : GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax to label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1" xml:lang="nl" id="label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1">Aanpassingen van de reële waarde vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:to="label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1" xlink:title="Label : GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax to label_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:label="IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:title="IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xml:lang="nl" id="label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome">Winstbelastingen met betrekking tot wisselkoersverschillen uit de omrekening opgenomen in de overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:title="Label : IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome to label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_1" xml:lang="nl" id="label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_1">Uitgestelde belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_1" xlink:title="Label : IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome to label_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:label="OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:title="OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation">Overige onderdelen van het totaalresultaat, vóór belastingen, wisselkoersverschillen uit omrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:to="label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation to label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_1" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_1">Brutobedrag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:to="label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_1" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation to label_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:label="ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:title="ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xml:lang="nl" id="label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax">Herclassificatieaanpassingen uit hoofde van kasstroomafdekkingen, vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:title="Label : ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax to label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_1" xml:lang="nl" id="label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_1">Brutobedrag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_1" xlink:title="Label : ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax to label_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" xlink:label="ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" xlink:title="ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" xml:lang="nl" id="label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax">Herclassificatieaanpassingen uit hoofde van kasstroomafdekkingen, na belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" xlink:to="label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" xlink:title="Label : ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax to label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax_1" xml:lang="nl" id="label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax_1">Overboeking van reserve naar nettoresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax" xlink:to="label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax_1" xlink:title="Label : ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax to label_ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:label="IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:title="IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xml:lang="nl" id="label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome">Winstbelastingen met betrekking tot kasstroomafdekkingen opgenomen in de overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:title="Label : IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome to label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_1" xml:lang="nl" id="label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_1">Uitgestelde belastingen op wijzigingen van de reële waarde</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_1" xlink:title="Label : IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome to label_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax" xlink:label="GainsLossesOnCashFlowHedgesBeforeTax" xlink:title="GainsLossesOnCashFlowHedgesBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnCashFlowHedgesBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnCashFlowHedgesBeforeTax" xml:lang="nl" id="label_GainsLossesOnCashFlowHedgesBeforeTax">Winsten (verliezen) uit kasstroomafdekkingen, vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnCashFlowHedgesBeforeTax" xlink:to="label_GainsLossesOnCashFlowHedgesBeforeTax" xlink:title="Label : GainsLossesOnCashFlowHedgesBeforeTax to label_GainsLossesOnCashFlowHedgesBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnCashFlowHedgesBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnCashFlowHedgesBeforeTax_1" xml:lang="nl" id="label_GainsLossesOnCashFlowHedgesBeforeTax_1">Aanpassingen van de reële waarde vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnCashFlowHedgesBeforeTax" xlink:to="label_GainsLossesOnCashFlowHedgesBeforeTax_1" xlink:title="Label : GainsLossesOnCashFlowHedgesBeforeTax to label_GainsLossesOnCashFlowHedgesBeforeTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome" xlink:label="IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome" xlink:title="IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome" xml:lang="nl" id="label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome">Winstbelastingen met betrekking tot de toepassing van de overlappingsbenadering in de overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome" xlink:title="Label : IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome to label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome_1" xml:lang="nl" id="label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome_1">Uitgestelde belastingen op wijzigingen van de reële waarde</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome_1" xlink:title="Label : IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome to label_IncomeTaxRelatingToApplicationOfOverlayApproachInOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:label="OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:title="OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach">Overige onderdelen van het totaalresultaat, vóór belastingen, toepassing van de overlappingsbenadering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:to="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach to label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1">Aanpassingen van de reële waarde vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:to="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach to label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax" xlink:label="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax" xlink:title="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax" xml:lang="nl" id="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax">Herclassificatieaanpassingen uit hoofde van financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de overige onderdelen van het totaalresultaat, na belastingen</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax_1" xml:lang="nl" id="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax_1">Overboeking van reserve naar nettoresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax" xlink:to="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax_1" xlink:title="Label : ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax to label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:label="IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:title="IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xml:lang="nl" id="label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome">Winstbelastingen met betrekking tot financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de overige onderdelen van het totaalresultaat opgenomen in de overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:title="Label : IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome to label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_1" xml:lang="nl" id="label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_1">Uitgestelde belastingen op wijzigingen van de reële waarde</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_1" xlink:title="Label : IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome to label_IncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:label="GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:title="GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xml:lang="nl" id="label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax">Winsten (verliezen) uit hoofde van financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de overige onderdelen van het totaalresultaat, vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:to="label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:title="Label : GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax to label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax_1" xml:lang="nl" id="label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax_1">Aanpassingen van de reële waarde vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:to="label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax_1" xlink:title="Label : GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax to label_GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:title="OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xml:lang="nl" id="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax">Overige onderdelen van het totaalresultaat die worden geherclassificeerd naar winst of verlies, na belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:title="Label : OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax to label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1" xml:lang="nl" id="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1">OCI DIE NAAR DE WINST-EN-VERLIESREKENING KAN WORDEN OVERGEBOEKT</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1" xlink:title="Label : OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax to label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:title="OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xml:lang="nl" id="label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax">Overige onderdelen van het totaalresultaat die niet worden geherclassificeerd naar winst of verlies, na belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:title="Label : OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax to label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1" xml:lang="nl" id="label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1">OCI DIE NIET NAAR DE WINST-EN-VERLIESREKENING ZAL WORDEN OVERGEBOEKT</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1" xlink:title="Label : OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax to label_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:label="OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:title="OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation">Overige onderdelen van het totaalresultaat, vóór belastingen, winsten (verliezen) bij herwaardering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:to="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation to label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation_1" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation_1">Aanpassingen van de reële waarde vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:to="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation_1" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation to label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:label="IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:title="IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xml:lang="nl" id="label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome">Winstbelastingen met betrekking tot veranderingen van de herwaarderingsreserves opgenomen in de overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:title="Label : IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome to label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome_1" xml:lang="nl" id="label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome_1">Uitgestelde belastingen op wijzigingen van de reële waarde</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome_1" xlink:title="Label : IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome to label_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:title="OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">Overige onderdelen van het totaalresultaat, vóór belastingen, winsten (verliezen) uit hoofde van herwaarderingen van toegezegdpensioenregelingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans to label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_1" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_1">Wijzigingen</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:label="IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:title="IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xml:lang="nl" id="label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome">Winstbelastingen met betrekking tot herwaarderingen van toegezegdpensioenregelingen opgenomen in de overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:title="Label : IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome to label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_1" xml:lang="nl" id="label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_1">Uitgestelde belastingen op wijzigingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_1" xlink:title="Label : IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome to label_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xlink:label="OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xlink:title="OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" />
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    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_1" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_1">Nettowijziging van het eigen kredietrisico</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xlink:label="OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xlink:title="OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability">Overige onderdelen van het totaalresultaat, vóór belastingen, verandering in de reële waarde van een financiële verplichting toe te rekenen aan een verandering in het aan de verplichting verbonden kredietrisico</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xlink:to="label_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability to label_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_1" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_1">Aanpassingen van de reële waarde vóór belastingen</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome" xlink:label="IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome" xlink:title="IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome" xml:lang="nl" id="label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome">Winstbelastingen met betrekking tot veranderingen in de reële waarde van financiële verplichtingen toe te rekenen aan de verandering van het kredietrisico van verplichtingen opgenomen in de overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome" xlink:title="Label : IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome to label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome_1" xml:lang="nl" id="label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome_1">Uitgestelde belastingen op wijzigingen van de reële waarde</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome_1" xlink:title="Label : IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome to label_IncomeTaxRelatingToChangesInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityOfOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:title="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xml:lang="nl" id="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax">Aandeel in de overige onderdelen van het totaalresultaat van geassocieerde deelnemingen en joint ventures die administratief werden verwerkt volgens de vermogensmutatiemethode en niet zullen worden geherclassificeerd naar winst of verlies, na belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:title="Label : ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax to label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1" xml:lang="nl" id="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1">Nettowijziging m.b.t. geassocieerde ondernemingen en joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1" xlink:title="Label : ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax to label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax" xlink:label="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax" xlink:title="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax" xml:lang="nl" id="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax">Aandeel in de overige onderdelen van het totaalresultaat van geassocieerde deelnemingen en joint ventures die administratief werden verwerkt volgens de vermogensmutatiemethode en niet zullen worden geherclassificeerd naar winst of verlies, vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax" xlink:title="Label : ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax to label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax_1" xml:lang="nl" id="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax_1">Wijzigingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax_1" xlink:title="Label : ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax to label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossBeforeTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss" xlink:label="IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss" xlink:title="IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss" xml:lang="nl" id="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss">Winstbelastingen met betrekking tot het aandeel in de overige onderdelen van het totaalresultaat van geassocieerde deelnemingen en joint ventures die administratief werden verwerkt volgens de vermogensmutatiemethode en niet zullen worden geherclassificeerd naar winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss" xlink:to="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss" xlink:title="Label : IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss to label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss_1" xml:lang="nl" id="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss_1">Uitgestelde belastingen op wijzigingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss" xlink:to="label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss_1" xlink:title="Label : IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss to label_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLoss_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:title="ComprehensiveIncomeAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncomeAttributableToNoncontrollingInterests" xml:lang="nl" id="label_ComprehensiveIncomeAttributableToNoncontrollingInterests">Overige onderdelen van het totaalresultaat, toe te rekenen aan belangen zonder zeggenschap</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="label_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:title="Label : ComprehensiveIncomeAttributableToNoncontrollingInterests to label_ComprehensiveIncomeAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1" xml:lang="nl" id="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1">Toerekenbaar aan minderheidsbelangen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1" xlink:title="Label : ComprehensiveIncomeAttributableToNoncontrollingInterests to label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ComprehensiveIncomeAttributableToOwnersOfParent" xlink:title="ComprehensiveIncomeAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncomeAttributableToOwnersOfParent" xml:lang="nl" id="label_ComprehensiveIncomeAttributableToOwnersOfParent">Overige onderdelen van het totaalresultaat, toe te rekenen aan eigenaars van de moedermaatschappij</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="label_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:title="Label : ComprehensiveIncomeAttributableToOwnersOfParent to label_ComprehensiveIncomeAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToOwnersOfParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComprehensiveIncomeAttributableToOwnersOfParent_1" xml:lang="nl" id="label_ComprehensiveIncomeAttributableToOwnersOfParent_1">Toerekenbaar aan de aandeelhouders van de moedermaatschappij</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="label_ComprehensiveIncomeAttributableToOwnersOfParent_1" xlink:title="Label : ComprehensiveIncomeAttributableToOwnersOfParent to label_ComprehensiveIncomeAttributableToOwnersOfParent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:label="ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:title="ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xml:lang="nl" id="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax">Herclassificatieaanpassingen uit hoofde van afdekkingen van netto-investeringen in buitenlandse bedrijfsactiviteiten, na belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:to="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:title="Label : ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax to label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_1" xml:lang="nl" id="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_1">Overboeking van reserve naar nettoresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:to="label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_1" xlink:title="Label : ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax to label_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:title="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xml:lang="nl" id="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax">Aandeel in de overige onderdelen van het totaalresultaat van geassocieerde deelnemingen en joint ventures die administratief werden verwerkt volgens de vermogensmutatiemethode en zullen worden geherclassificeerd naar winst of verlies, na belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:title="Label : ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax to label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_1" xml:lang="nl" id="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_1">Nettowijziging m.b.t. geassocieerde ondernemingen en joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_1" xlink:title="Label : ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax to label_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AssetsAbstract" xlink:label="AssetsAbstract" xlink:title="AssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsAbstract" xml:lang="nl" id="label_AssetsAbstract">Activa [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="label_AssetsAbstract" xlink:title="Label : AssetsAbstract to label_AssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsAbstract_1" xml:lang="nl" id="label_AssetsAbstract_1">ACTIVA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="label_AssetsAbstract_1" xlink:title="Label : AssetsAbstract to label_AssetsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialAssetsAtAmortisedCost" xlink:label="FinancialAssetsAtAmortisedCost" xlink:title="FinancialAssetsAtAmortisedCost" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtAmortisedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsAtAmortisedCost" xml:lang="nl" id="label_FinancialAssetsAtAmortisedCost">Financiële activa gewaardeerd tegen geamortiseerde kostprijs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtAmortisedCost" xlink:to="label_FinancialAssetsAtAmortisedCost" xlink:title="Label : FinancialAssetsAtAmortisedCost to label_FinancialAssetsAtAmortisedCost" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtAmortisedCost_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsAtAmortisedCost_1" xml:lang="nl" id="label_FinancialAssetsAtAmortisedCost_1">Tegen geamortiseerde kostprijs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtAmortisedCost" xlink:to="label_FinancialAssetsAtAmortisedCost_1" xlink:title="Label : FinancialAssetsAtAmortisedCost to label_FinancialAssetsAtAmortisedCost_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:label="FinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:title="FinancialAssetsAtFairValueThroughOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xml:lang="nl" id="label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome">Financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:title="Label : FinancialAssetsAtFairValueThroughOtherComprehensiveIncome to label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1" xml:lang="nl" id="label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1">Gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in OCI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1" xlink:title="Label : FinancialAssetsAtFairValueThroughOtherComprehensiveIncome to label_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:label="FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:title="FinancialAssetsAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsAtFairValueThroughProfitOrLoss" xml:lang="nl" id="label_FinancialAssetsAtFairValueThroughProfitOrLoss">Financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="label_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:title="Label : FinancialAssetsAtFairValueThroughProfitOrLoss to label_FinancialAssetsAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtFairValueThroughProfitOrLoss_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsAtFairValueThroughProfitOrLoss_1" xml:lang="nl" id="label_FinancialAssetsAtFairValueThroughProfitOrLoss_1">Gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="label_FinancialAssetsAtFairValueThroughProfitOrLoss_1" xlink:title="Label : FinancialAssetsAtFairValueThroughProfitOrLoss to label_FinancialAssetsAtFairValueThroughProfitOrLoss_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:label="FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:title="FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xml:lang="nl" id="label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">Financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in winst of verlies, geclassificeerd als voor handelsdoeleinden aangehouden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:to="label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:title="Label : FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading to label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1" xml:lang="nl" id="label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1">Waarvan aangehouden voor handelsdoeleinden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:to="label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1" xlink:title="Label : FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading to label_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DerivativeFinancialAssetsHeldForHedging" xlink:label="DerivativeFinancialAssetsHeldForHedging" xlink:title="DerivativeFinancialAssetsHeldForHedging" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialAssetsHeldForHedging" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativeFinancialAssetsHeldForHedging" xml:lang="nl" id="label_DerivativeFinancialAssetsHeldForHedging">Voor afdekkingsdoeleinden aangehouden afgeleide financiële activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialAssetsHeldForHedging" xlink:to="label_DerivativeFinancialAssetsHeldForHedging" xlink:title="Label : DerivativeFinancialAssetsHeldForHedging to label_DerivativeFinancialAssetsHeldForHedging" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialAssetsHeldForHedging_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DerivativeFinancialAssetsHeldForHedging_1" xml:lang="nl" id="label_DerivativeFinancialAssetsHeldForHedging_1">Afdekkingsderivaten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialAssetsHeldForHedging" xlink:to="label_DerivativeFinancialAssetsHeldForHedging_1" xlink:title="Label : DerivativeFinancialAssetsHeldForHedging to label_DerivativeFinancialAssetsHeldForHedging_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AssetsUnderReinsuranceCeded" xlink:label="AssetsUnderReinsuranceCeded" xlink:title="AssetsUnderReinsuranceCeded" />
    <link:label xlink:type="resource" xlink:label="label_AssetsUnderReinsuranceCeded" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsUnderReinsuranceCeded" xml:lang="nl" id="label_AssetsUnderReinsuranceCeded">Activa in het kader van overgedragen herverzekering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsUnderReinsuranceCeded" xlink:to="label_AssetsUnderReinsuranceCeded" xlink:title="Label : AssetsUnderReinsuranceCeded to label_AssetsUnderReinsuranceCeded" />
    <link:label xlink:type="resource" xlink:label="label_AssetsUnderReinsuranceCeded_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsUnderReinsuranceCeded_1" xml:lang="nl" id="label_AssetsUnderReinsuranceCeded_1">Deel van de herverzekeraar in technische voorzieningen, verzekeringen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsUnderReinsuranceCeded" xlink:to="label_AssetsUnderReinsuranceCeded_1" xlink:title="Label : AssetsUnderReinsuranceCeded to label_AssetsUnderReinsuranceCeded_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentTaxAssets" xlink:label="CurrentTaxAssets" xlink:title="CurrentTaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentTaxAssets" xml:lang="nl" id="label_CurrentTaxAssets">Actuele belastingvorderingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxAssets" xlink:to="label_CurrentTaxAssets" xlink:title="Label : CurrentTaxAssets to label_CurrentTaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentTaxAssets_1" xml:lang="nl" id="label_CurrentTaxAssets_1">Actuele belastingvorderingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxAssets" xlink:to="label_CurrentTaxAssets_1" xlink:title="Label : CurrentTaxAssets to label_CurrentTaxAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DeferredTaxAssets" xlink:label="DeferredTaxAssets" xlink:title="DeferredTaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssets" xml:lang="nl" id="label_DeferredTaxAssets">Uitgestelde belastingvorderingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssets" xlink:to="label_DeferredTaxAssets" xlink:title="Label : DeferredTaxAssets to label_DeferredTaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxAssets_1" xml:lang="nl" id="label_DeferredTaxAssets_1">Uitgestelde belastingvorderingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssets" xlink:to="label_DeferredTaxAssets_1" xlink:title="Label : DeferredTaxAssets to label_DeferredTaxAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:label="NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:title="NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xml:lang="nl" id="label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners">Vaste activa of groepen activa die worden afgestoten en die zijn geclassificeerd als aangehouden voor verkoop of als aangehouden voor uitkering aan eigenaars</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:to="label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:title="Label : NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners to label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_1" xml:lang="nl" id="label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_1">Vaste activa aangehouden voor verkoop en groepen activa die worden afgestoten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:to="label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_1" xlink:title="Label : NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners to label_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:title="InvestmentsInSubsidiariesJointVenturesAndAssociates" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsInSubsidiariesJointVenturesAndAssociates" xml:lang="nl" id="label_InvestmentsInSubsidiariesJointVenturesAndAssociates">Investeringen in dochterondernemingen, joint ventures en geassocieerde deelnemingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:to="label_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:title="Label : InvestmentsInSubsidiariesJointVenturesAndAssociates to label_InvestmentsInSubsidiariesJointVenturesAndAssociates" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInSubsidiariesJointVenturesAndAssociates_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentsInSubsidiariesJointVenturesAndAssociates_1" xml:lang="nl" id="label_InvestmentsInSubsidiariesJointVenturesAndAssociates_1">Investeringen in geassocieerde ondernemingen en joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:to="label_InvestmentsInSubsidiariesJointVenturesAndAssociates_1" xlink:title="Label : InvestmentsInSubsidiariesJointVenturesAndAssociates to label_InvestmentsInSubsidiariesJointVenturesAndAssociates_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="IntangibleAssetsAndGoodwill" xlink:title="IntangibleAssetsAndGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IntangibleAssetsAndGoodwill" xml:lang="nl" id="label_IntangibleAssetsAndGoodwill">Immateriële activa en goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAndGoodwill" xlink:to="label_IntangibleAssetsAndGoodwill" xlink:title="Label : IntangibleAssetsAndGoodwill to label_IntangibleAssetsAndGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAndGoodwill_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IntangibleAssetsAndGoodwill_1" xml:lang="nl" id="label_IntangibleAssetsAndGoodwill_1">Goodwill en andere immateriële vaste activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAndGoodwill" xlink:to="label_IntangibleAssetsAndGoodwill_1" xlink:title="Label : IntangibleAssetsAndGoodwill to label_IntangibleAssetsAndGoodwill_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherAssets" xlink:label="OtherAssets" xlink:title="OtherAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherAssets" xml:lang="nl" id="label_OtherAssets">Andere activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssets" xlink:to="label_OtherAssets" xlink:title="Label : OtherAssets to label_OtherAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherAssets_1" xml:lang="nl" id="label_OtherAssets_1">Overige activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssets" xlink:to="label_OtherAssets_1" xlink:title="Label : OtherAssets to label_OtherAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:label xlink:type="resource" xlink:label="label_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Assets" xml:lang="nl" id="label_Assets">Activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets" xlink:title="Label : Assets to label_Assets" />
    <link:label xlink:type="resource" xlink:label="label_Assets_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Assets_1" xml:lang="nl" id="label_Assets_1">TOTAAL ACTIVA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets_1" xlink:title="Label : Assets to label_Assets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ComponentsOfEquityAxis" xlink:title="ComponentsOfEquityAxis" />
    <link:label xlink:type="resource" xlink:label="label_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComponentsOfEquityAxis" xml:lang="nl" id="label_ComponentsOfEquityAxis">Eigen-vermogenscomponenten [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfEquityAxis" xlink:to="label_ComponentsOfEquityAxis" xlink:title="Label : ComponentsOfEquityAxis to label_ComponentsOfEquityAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityMember" xlink:label="EquityMember" xlink:title="EquityMember" />
    <link:label xlink:type="resource" xlink:label="label_EquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityMember" xml:lang="nl" id="label_EquityMember">Eigen vermogen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityMember" xlink:to="label_EquityMember" xlink:title="Label : EquityMember to label_EquityMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="EquityAttributableToOwnersOfParentMember" xlink:title="EquityAttributableToOwnersOfParentMember" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAttributableToOwnersOfParentMember" xml:lang="nl" id="label_EquityAttributableToOwnersOfParentMember">Eigen vermogen toe te rekenen aan eigenaars van de moedermaatschappij [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="label_EquityAttributableToOwnersOfParentMember" xlink:title="Label : EquityAttributableToOwnersOfParentMember to label_EquityAttributableToOwnersOfParentMember" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityAttributableToOwnersOfParentMember_1" xml:lang="nl" id="label_EquityAttributableToOwnersOfParentMember_1">Eigen vermo-gen van aandeel-houders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="label_EquityAttributableToOwnersOfParentMember_1" xlink:title="Label : EquityAttributableToOwnersOfParentMember to label_EquityAttributableToOwnersOfParentMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="NoncontrollingInterestsMember" xlink:title="NoncontrollingInterestsMember" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncontrollingInterestsMember" xml:lang="nl" id="label_NoncontrollingInterestsMember">Belangen zonder zeggenschap [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestsMember" xlink:to="label_NoncontrollingInterestsMember" xlink:title="Label : NoncontrollingInterestsMember to label_NoncontrollingInterestsMember" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncontrollingInterestsMember_1" xml:lang="nl" id="label_NoncontrollingInterestsMember_1">Minder-heids-belan-gen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestsMember" xlink:to="label_NoncontrollingInterestsMember_1" xlink:title="Label : NoncontrollingInterestsMember to label_NoncontrollingInterestsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InAccordanceWithIFRS9Member" xlink:label="InAccordanceWithIFRS9Member" xlink:title="InAccordanceWithIFRS9Member" />
    <link:label xlink:type="resource" xlink:label="label_InAccordanceWithIFRS9Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InAccordanceWithIFRS9Member" xml:lang="nl" id="label_InAccordanceWithIFRS9Member">In overeenstemming met IFRS 9 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InAccordanceWithIFRS9Member" xlink:to="label_InAccordanceWithIFRS9Member" xlink:title="Label : InAccordanceWithIFRS9Member to label_InAccordanceWithIFRS9Member" />
    <link:label xlink:type="resource" xlink:label="label_InAccordanceWithIFRS9Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InAccordanceWithIFRS9Member_1" xml:lang="nl" id="label_InAccordanceWithIFRS9Member_1">Invloed gerelateerd aan de eerste toepassing van IFRS 9</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InAccordanceWithIFRS9Member" xlink:to="label_InAccordanceWithIFRS9Member_1" xlink:title="Label : InAccordanceWithIFRS9Member to label_InAccordanceWithIFRS9Member_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="StatementOfChangesInEquityLineItems" xlink:title="StatementOfChangesInEquityLineItems" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfChangesInEquityLineItems" xml:lang="nl" id="label_StatementOfChangesInEquityLineItems">Mutatieoverzicht van het eigen vermogen [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="label_StatementOfChangesInEquityLineItems" xlink:title="Label : StatementOfChangesInEquityLineItems to label_StatementOfChangesInEquityLineItems" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementOfChangesInEquityLineItems_1" xml:lang="nl" id="label_StatementOfChangesInEquityLineItems_1">Geconsolideerde vermogensmutaties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityLineItems" xlink:to="label_StatementOfChangesInEquityLineItems_1" xlink:title="Label : StatementOfChangesInEquityLineItems to label_StatementOfChangesInEquityLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLoss" xml:lang="nl" id="label_ProfitLoss">Winst (verlies)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss" xlink:title="Label : ProfitLoss to label_ProfitLoss" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLoss_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ProfitLoss_1" xml:lang="nl" id="label_ProfitLoss_1">RESULTAAT NA BELASTINGEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_1" xlink:title="Label : ProfitLoss to label_ProfitLoss_1" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLoss_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProfitLoss_2" xml:lang="nl" id="label_ProfitLoss_2">RESULTAAT NA BELASTINGEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_2" xlink:title="Label : ProfitLoss to label_ProfitLoss_2" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLoss_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLoss_3" xml:lang="nl" id="label_ProfitLoss_3">Nettoresultaat over de periode</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_3" xlink:title="Label : ProfitLoss to label_ProfitLoss_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="OtherComprehensiveIncome" xlink:title="OtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncome" xml:lang="nl" id="label_OtherComprehensiveIncome">Overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncome" xlink:title="Label : OtherComprehensiveIncome to label_OtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncome_1" xml:lang="nl" id="label_OtherComprehensiveIncome_1">OCI erkend in eigen vermogen over de periode</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncome_1" xlink:title="Label : OtherComprehensiveIncome to label_OtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ComprehensiveIncome" xlink:title="ComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncome" xml:lang="nl" id="label_ComprehensiveIncome">Overige onderdelen van het totaalresultaat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncome" xlink:to="label_ComprehensiveIncome" xlink:title="Label : ComprehensiveIncome to label_ComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ComprehensiveIncome_1" xml:lang="nl" id="label_ComprehensiveIncome_1">TOTAAL GEREALISEERDE EN NIET-GEREALISEERDE RESULTATEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncome" xlink:to="label_ComprehensiveIncome_1" xlink:title="Label : ComprehensiveIncome to label_ComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAndLiabilitiesAbstract" xlink:label="EquityAndLiabilitiesAbstract" xlink:title="EquityAndLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EquityAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAndLiabilitiesAbstract" xml:lang="nl" id="label_EquityAndLiabilitiesAbstract">Eigen vermogen en verplichtingen [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilitiesAbstract" xlink:to="label_EquityAndLiabilitiesAbstract" xlink:title="Label : EquityAndLiabilitiesAbstract to label_EquityAndLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EquityAndLiabilitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityAndLiabilitiesAbstract_1" xml:lang="nl" id="label_EquityAndLiabilitiesAbstract_1">VERPLICHTINGEN EN EIGEN VERMOGEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilitiesAbstract" xlink:to="label_EquityAndLiabilitiesAbstract_1" xlink:title="Label : EquityAndLiabilitiesAbstract to label_EquityAndLiabilitiesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:label="FinancialLiabilitiesAtAmortisedCost" xlink:title="FinancialLiabilitiesAtAmortisedCost" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtAmortisedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesAtAmortisedCost" xml:lang="nl" id="label_FinancialLiabilitiesAtAmortisedCost">Financiële verplichtingen gewaardeerd tegen geamortiseerde kostprijs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtAmortisedCost" xlink:to="label_FinancialLiabilitiesAtAmortisedCost" xlink:title="Label : FinancialLiabilitiesAtAmortisedCost to label_FinancialLiabilitiesAtAmortisedCost" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtAmortisedCost_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesAtAmortisedCost_1" xml:lang="nl" id="label_FinancialLiabilitiesAtAmortisedCost_1">Tegen geamortiseerde kostprijs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtAmortisedCost" xlink:to="label_FinancialLiabilitiesAtAmortisedCost_1" xlink:title="Label : FinancialLiabilitiesAtAmortisedCost to label_FinancialLiabilitiesAtAmortisedCost_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:label="FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:title="FinancialLiabilitiesAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xml:lang="nl" id="label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss">Financiële verplichtingen gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:to="label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:title="Label : FinancialLiabilitiesAtFairValueThroughProfitOrLoss to label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss_1" xml:lang="nl" id="label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss_1">Gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:to="label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss_1" xlink:title="Label : FinancialLiabilitiesAtFairValueThroughProfitOrLoss to label_FinancialLiabilitiesAtFairValueThroughProfitOrLoss_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:label="FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:title="FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xml:lang="nl" id="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">Financiële verplichtingen gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in winst of verlies die voldoen aan de definitie van het begrip voor handelsdoeleinden aangehouden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:to="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:title="Label : FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading to label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1" xml:lang="nl" id="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1">Waarvan aangehouden voor handelsdoeleinden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:to="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1" xlink:title="Label : FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading to label_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DerivativeFinancialLiabilitiesHeldForHedging" xlink:label="DerivativeFinancialLiabilitiesHeldForHedging" xlink:title="DerivativeFinancialLiabilitiesHeldForHedging" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialLiabilitiesHeldForHedging" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativeFinancialLiabilitiesHeldForHedging" xml:lang="nl" id="label_DerivativeFinancialLiabilitiesHeldForHedging">Voor afdekkingsdoeleinden aangehouden afgeleide financiële verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialLiabilitiesHeldForHedging" xlink:to="label_DerivativeFinancialLiabilitiesHeldForHedging" xlink:title="Label : DerivativeFinancialLiabilitiesHeldForHedging to label_DerivativeFinancialLiabilitiesHeldForHedging" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialLiabilitiesHeldForHedging_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DerivativeFinancialLiabilitiesHeldForHedging_1" xml:lang="nl" id="label_DerivativeFinancialLiabilitiesHeldForHedging_1">Afdekkingsderivaten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialLiabilitiesHeldForHedging" xlink:to="label_DerivativeFinancialLiabilitiesHeldForHedging_1" xlink:title="Label : DerivativeFinancialLiabilitiesHeldForHedging to label_DerivativeFinancialLiabilitiesHeldForHedging_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LiabilitiesArisingFromInsuranceContracts" xlink:label="LiabilitiesArisingFromInsuranceContracts" xlink:title="LiabilitiesArisingFromInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesArisingFromInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesArisingFromInsuranceContracts" xml:lang="nl" id="label_LiabilitiesArisingFromInsuranceContracts">Verplichtingen uit hoofde van uitgegeven verzekeringscontracten en herverzekeringscontracten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesArisingFromInsuranceContracts" xlink:to="label_LiabilitiesArisingFromInsuranceContracts" xlink:title="Label : LiabilitiesArisingFromInsuranceContracts to label_LiabilitiesArisingFromInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesArisingFromInsuranceContracts_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesArisingFromInsuranceContracts_1" xml:lang="nl" id="label_LiabilitiesArisingFromInsuranceContracts_1">Technische voorzieningen vóór herverzekering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesArisingFromInsuranceContracts" xlink:to="label_LiabilitiesArisingFromInsuranceContracts_1" xlink:title="Label : LiabilitiesArisingFromInsuranceContracts to label_LiabilitiesArisingFromInsuranceContracts_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentTaxLiabilities" xlink:label="CurrentTaxLiabilities" xlink:title="CurrentTaxLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentTaxLiabilities" xml:lang="nl" id="label_CurrentTaxLiabilities">Actuele belastingverplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxLiabilities" xlink:to="label_CurrentTaxLiabilities" xlink:title="Label : CurrentTaxLiabilities to label_CurrentTaxLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentTaxLiabilities_1" xml:lang="nl" id="label_CurrentTaxLiabilities_1">Actuele belastingverplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxLiabilities" xlink:to="label_CurrentTaxLiabilities_1" xlink:title="Label : CurrentTaxLiabilities to label_CurrentTaxLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="DeferredTaxLiabilities" xlink:title="DeferredTaxLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxLiabilities" xml:lang="nl" id="label_DeferredTaxLiabilities">Uitgestelde belastingverplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilities" xlink:to="label_DeferredTaxLiabilities" xlink:title="Label : DeferredTaxLiabilities to label_DeferredTaxLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxLiabilities_1" xml:lang="nl" id="label_DeferredTaxLiabilities_1">Uitgestelde belastingverplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilities" xlink:to="label_DeferredTaxLiabilities_1" xlink:title="Label : DeferredTaxLiabilities to label_DeferredTaxLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:label="LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:title="LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xml:lang="nl" id="label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale">Verplichtingen die deel uitmaken van groepen activa die worden afgestoten en die zijn geclassificeerd als aangehouden voor verkoop</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:to="label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:title="Label : LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale to label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_1" xml:lang="nl" id="label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_1">Verplichtingen i.v.m. groepen activa die worden afgestoten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:to="label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_1" xlink:title="Label : LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale to label_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Provisions" xlink:label="Provisions" xlink:title="Provisions" />
    <link:label xlink:type="resource" xlink:label="label_Provisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Provisions" xml:lang="nl" id="label_Provisions">Voorzieningen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Provisions" xlink:to="label_Provisions" xlink:title="Label : Provisions to label_Provisions" />
    <link:label xlink:type="resource" xlink:label="label_Provisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Provisions_1" xml:lang="nl" id="label_Provisions_1">Voorziening voor risico's en kosten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Provisions" xlink:to="label_Provisions_1" xlink:title="Label : Provisions to label_Provisions_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherLiabilities" xlink:label="OtherLiabilities" xlink:title="OtherLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherLiabilities" xml:lang="nl" id="label_OtherLiabilities">Andere verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLiabilities" xlink:to="label_OtherLiabilities" xlink:title="Label : OtherLiabilities to label_OtherLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherLiabilities_1" xml:lang="nl" id="label_OtherLiabilities_1">Overige verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLiabilities" xlink:to="label_OtherLiabilities_1" xlink:title="Label : OtherLiabilities to label_OtherLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Liabilities" xml:lang="nl" id="label_Liabilities">Verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities" xlink:title="Label : Liabilities to label_Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_Liabilities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Liabilities_1" xml:lang="nl" id="label_Liabilities_1">TOTAAL VERPLICHTINGEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities_1" xlink:title="Label : Liabilities to label_Liabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="EquityAttributableToOwnersOfParent" xlink:title="EquityAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAttributableToOwnersOfParent" xml:lang="nl" id="label_EquityAttributableToOwnersOfParent">Eigen vermogen toe te rekenen aan eigenaars van de moedermaatschappij</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParent" xlink:to="label_EquityAttributableToOwnersOfParent" xlink:title="Label : EquityAttributableToOwnersOfParent to label_EquityAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityAttributableToOwnersOfParent_1" xml:lang="nl" id="label_EquityAttributableToOwnersOfParent_1">Eigen vermogen van de aandeelhouders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParent" xlink:to="label_EquityAttributableToOwnersOfParent_1" xlink:title="Label : EquityAttributableToOwnersOfParent to label_EquityAttributableToOwnersOfParent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncontrollingInterests" xlink:label="NoncontrollingInterests" xlink:title="NoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncontrollingInterests" xml:lang="nl" id="label_NoncontrollingInterests">Belangen zonder zeggenschap</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterests" xlink:to="label_NoncontrollingInterests" xlink:title="Label : NoncontrollingInterests to label_NoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncontrollingInterests_1" xml:lang="nl" id="label_NoncontrollingInterests_1">Minderheidsbelangen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterests" xlink:to="label_NoncontrollingInterests_1" xlink:title="Label : NoncontrollingInterests to label_NoncontrollingInterests_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAndLiabilities" xlink:label="EquityAndLiabilities" xlink:title="EquityAndLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAndLiabilities" xml:lang="nl" id="label_EquityAndLiabilities">Eigen vermogen en verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilities" xlink:to="label_EquityAndLiabilities" xlink:title="Label : EquityAndLiabilities to label_EquityAndLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_EquityAndLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_EquityAndLiabilities_1" xml:lang="nl" id="label_EquityAndLiabilities_1">TOTAAL VERPLICHTINGEN EN EIGEN VERMOGEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilities" xlink:to="label_EquityAndLiabilities_1" xlink:title="Label : EquityAndLiabilities to label_EquityAndLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:title="CashFlowsFromUsedInOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInOperatingActivitiesAbstract" xml:lang="nl" id="label_CashFlowsFromUsedInOperatingActivitiesAbstract">Kasstromen uit hoofde van (gebruikt in) operationele activiteiten [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:title="Label : CashFlowsFromUsedInOperatingActivitiesAbstract to label_CashFlowsFromUsedInOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperatingActivitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowsFromUsedInOperatingActivitiesAbstract_1" xml:lang="nl" id="label_CashFlowsFromUsedInOperatingActivitiesAbstract_1">BEDRIJFSACTIVITEITEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInOperatingActivitiesAbstract_1" xlink:title="Label : CashFlowsFromUsedInOperatingActivitiesAbstract to label_CashFlowsFromUsedInOperatingActivitiesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="AdjustmentsForReconcileProfitLossAbstract" xlink:title="AdjustmentsForReconcileProfitLossAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForReconcileProfitLossAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForReconcileProfitLossAbstract" xml:lang="nl" id="label_AdjustmentsForReconcileProfitLossAbstract">Aanpassingen om een aansluiting te geven tussen winst (verlies) [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="label_AdjustmentsForReconcileProfitLossAbstract" xlink:title="Label : AdjustmentsForReconcileProfitLossAbstract to label_AdjustmentsForReconcileProfitLossAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForReconcileProfitLossAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForReconcileProfitLossAbstract_1" xml:lang="nl" id="label_AdjustmentsForReconcileProfitLossAbstract_1">Aanpassingen voor</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="label_AdjustmentsForReconcileProfitLossAbstract_1" xlink:title="Label : AdjustmentsForReconcileProfitLossAbstract to label_AdjustmentsForReconcileProfitLossAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IssueOfEquity" xlink:label="IssueOfEquity" xlink:title="IssueOfEquity" />
    <link:label xlink:type="resource" xlink:label="label_IssueOfEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssueOfEquity" xml:lang="nl" id="label_IssueOfEquity">Uitgifte van eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssueOfEquity" xlink:to="label_IssueOfEquity" xlink:title="Label : IssueOfEquity to label_IssueOfEquity" />
    <link:label xlink:type="resource" xlink:label="label_IssueOfEquity_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssueOfEquity_1" xml:lang="nl" id="label_IssueOfEquity_1">Kapitaalverhoging</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssueOfEquity" xlink:to="label_IssueOfEquity_1" xlink:title="Label : IssueOfEquity to label_IssueOfEquity_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" xlink:label="IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" xlink:title="IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" xml:lang="nl" id="label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings">Stijging (daling) als gevolg van de overdracht tussen herwaarderingsreserves en ingehouden winsten, eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" xlink:to="label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" xlink:title="Label : IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings to label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings_1" xml:lang="nl" id="label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings_1">Overboeking van reserve naar overgedragen resultaat bij realisatie</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" xlink:to="label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings_1" xlink:title="Label : IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings to label_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:title="IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xml:lang="nl" id="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl">Stijging (daling) als gevolg van wijzigingen in eigendomsbelangen in dochterondernemingen die niet leiden tot verlies van zeggenschap, eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:to="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:title="Label : IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl to label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1" xml:lang="nl" id="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1">Wijzigingen in minderheidsbelangen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:to="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1" xlink:title="Label : IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl to label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ProfitLossBeforeTax" xlink:title="ProfitLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossBeforeTax" xml:lang="nl" id="label_ProfitLossBeforeTax">Winst (verlies) vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossBeforeTax" xlink:to="label_ProfitLossBeforeTax" xlink:title="Label : ProfitLossBeforeTax to label_ProfitLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ProfitLossBeforeTax_1" xml:lang="nl" id="label_ProfitLossBeforeTax_1">RESULTAAT VÓÓR BELASTINGEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossBeforeTax" xlink:to="label_ProfitLossBeforeTax_1" xlink:title="Label : ProfitLossBeforeTax to label_ProfitLossBeforeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossBeforeTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossBeforeTax_2" xml:lang="nl" id="label_ProfitLossBeforeTax_2">Resultaat vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossBeforeTax" xlink:to="label_ProfitLossBeforeTax_2" xlink:title="Label : ProfitLossBeforeTax to label_ProfitLossBeforeTax_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances" xlink:label="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances" xlink:title="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances" xml:lang="nl" id="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances">Aanpassingen voor bijzonder waardeverminderingsverlies (terugneming van bijzonder waardeverminderingsverlies) opgenomen in winst of verlies, leningen en voorschotten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances" xlink:to="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances" xlink:title="Label : AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances to label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances_1" xml:lang="nl" id="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances_1">wijziging in bijzondere waardeverminderingen voor verliezen op leningen en voorschotten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances" xlink:to="label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances_1" xlink:title="Label : AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances to label_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossLoansAndAdvances_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:label="AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:title="AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xml:lang="nl" id="label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod">Aanpassingen voor niet-uitgekeerde winsten van investeringen die administratief werden verwerkt volgens de vermogensmutatiemethode</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:to="label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:title="Label : AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod to label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_1" xml:lang="nl" id="label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_1">opbrengsten van geassocieerde ondernemingen en joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:to="label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_1" xlink:title="Label : AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod to label_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:label="CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:title="CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xml:lang="nl" id="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital">Kasstromen uit hoofde van (gebruikt in) bedrijfsactiviteiten vóór wijzigingen van het werkkapitaal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:to="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:title="Label : CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital to label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1" xml:lang="nl" id="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1">Kasstromen uit bedrijfswinst vóór belastingen en vóór wijzigingen in bedrijfsactiva en -verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:to="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1" xlink:title="Label : CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital to label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeArisingFromInsuranceContracts" xlink:label="IncomeArisingFromInsuranceContracts" xlink:title="IncomeArisingFromInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_IncomeArisingFromInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeArisingFromInsuranceContracts" xml:lang="nl" id="label_IncomeArisingFromInsuranceContracts">Baten die voortvloeien uit verzekeringscontracten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeArisingFromInsuranceContracts" xlink:to="label_IncomeArisingFromInsuranceContracts" xlink:title="Label : IncomeArisingFromInsuranceContracts to label_IncomeArisingFromInsuranceContracts" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ExpenseArisingFromInsuranceContracts" xlink:label="ExpenseArisingFromInsuranceContracts" xlink:title="ExpenseArisingFromInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseArisingFromInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseArisingFromInsuranceContracts" xml:lang="nl" id="label_ExpenseArisingFromInsuranceContracts">Kosten die voortvloeien uit verzekeringscontracten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseArisingFromInsuranceContracts" xlink:to="label_ExpenseArisingFromInsuranceContracts" xlink:title="Label : ExpenseArisingFromInsuranceContracts to label_ExpenseArisingFromInsuranceContracts" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:label="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:title="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xml:lang="nl" id="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax">Herclassificatieaanpassingen uit hoofde van financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de overige onderdelen van het totaalresultaat, vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:title="Label : ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax to label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax" xlink:label="ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax" xlink:title="ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax" xml:lang="nl" id="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax">Herclassificatieaanpassingen uit hoofde van de toepassing van de overlappingsbenadering, vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax" xlink:title="Label : ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax to label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachBeforeTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets" xlink:label="AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets" xlink:title="AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets">Aanpassingen voor de daling (stijging) van afgeleide financiële activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets" xlink:to="label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets" xlink:title="Label : AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets to label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets_1" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets_1">Afdekkingsderivaten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets" xlink:to="label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets_1" xlink:title="Label : AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets to label_AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:label="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:title="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading">Aanpassingen voor de stijging (daling) van voor handelsdoeleinden aangehouden financiële verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:to="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:title="Label : AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading to label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading_1" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading_1">Waarvan financiële verplichtingen aangehouden voor handelsdoeleinden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:to="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading_1" xlink:title="Label : AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading to label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities" xlink:label="AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities" xlink:title="AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities" xlink:to="label_AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities" xlink:title="Label : AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities to label_AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities_1" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities_1">Afdekkingsderivaten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities" xlink:to="label_AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities_1" xlink:title="Label : AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities to label_AdjustmentsForIncreaseDecreaseInDerivativeFinancialLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="PropertyPlantAndEquipment" xlink:title="PropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipment" xml:lang="nl" id="label_PropertyPlantAndEquipment">Materiële vaste activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipment" xlink:to="label_PropertyPlantAndEquipment" xlink:title="Label : PropertyPlantAndEquipment to label_PropertyPlantAndEquipment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InvestmentProperty" xlink:label="InvestmentProperty" xlink:title="InvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentProperty" xml:lang="nl" id="label_InvestmentProperty">Vastgoedbeleggingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProperty" xlink:to="label_InvestmentProperty" xlink:title="Label : InvestmentProperty to label_InvestmentProperty" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="CashFlowsFromUsedInOperatingActivities" xlink:title="CashFlowsFromUsedInOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInOperatingActivities" xml:lang="nl" id="label_CashFlowsFromUsedInOperatingActivities">Kasstromen uit hoofde van (gebruikt in) operationele activiteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="label_CashFlowsFromUsedInOperatingActivities" xlink:title="Label : CashFlowsFromUsedInOperatingActivities to label_CashFlowsFromUsedInOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperatingActivities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashFlowsFromUsedInOperatingActivities_1" xml:lang="nl" id="label_CashFlowsFromUsedInOperatingActivities_1">Nettokasstromen uit of aangewend bij bedrijfsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="label_CashFlowsFromUsedInOperatingActivities_1" xlink:title="Label : CashFlowsFromUsedInOperatingActivities to label_CashFlowsFromUsedInOperatingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:title="IncomeTaxesPaidRefundClassifiedAsOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xml:lang="nl" id="label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities">Betaalde winstbelastingen (terugbetaling), geclassificeerd als operationele activiteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:to="label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:title="Label : IncomeTaxesPaidRefundClassifiedAsOperatingActivities to label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_1" xml:lang="nl" id="label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_1">Betaalde belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:to="label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_1" xlink:title="Label : IncomeTaxesPaidRefundClassifiedAsOperatingActivities to label_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfTreasuryShares" xlink:label="PurchaseOfTreasuryShares" xlink:title="PurchaseOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfTreasuryShares" xml:lang="nl" id="label_PurchaseOfTreasuryShares">Aankoop van eigen aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfTreasuryShares" xlink:to="label_PurchaseOfTreasuryShares" xlink:title="Label : PurchaseOfTreasuryShares to label_PurchaseOfTreasuryShares" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_SaleOrIssueOfTreasuryShares" xlink:label="SaleOrIssueOfTreasuryShares" xlink:title="SaleOrIssueOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_SaleOrIssueOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SaleOrIssueOfTreasuryShares" xml:lang="nl" id="label_SaleOrIssueOfTreasuryShares">Verkoop of uitgifte van ingekochte eigen aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOrIssueOfTreasuryShares" xlink:to="label_SaleOrIssueOfTreasuryShares" xlink:title="Label : SaleOrIssueOfTreasuryShares to label_SaleOrIssueOfTreasuryShares" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:label="AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:title="AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xml:lang="nl" id="label_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital">Aanpassingen om een aansluiting te geven tussen winst (verlies) die geen wijzigingen in werkkapitaal zijn</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:to="label_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:title="Label : AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital to label_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="AdjustmentsForProvisions" xlink:title="AdjustmentsForProvisions" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForProvisions" xml:lang="nl" id="label_AdjustmentsForProvisions">Aanpassingen voor voorzieningen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForProvisions" xlink:to="label_AdjustmentsForProvisions" xlink:title="Label : AdjustmentsForProvisions to label_AdjustmentsForProvisions" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="IncreaseDecreaseInWorkingCapital" xlink:title="IncreaseDecreaseInWorkingCapital" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInWorkingCapital" xml:lang="nl" id="label_IncreaseDecreaseInWorkingCapital">Stijging (daling) van werkkapitaal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInWorkingCapital" xlink:to="label_IncreaseDecreaseInWorkingCapital" xlink:title="Label : IncreaseDecreaseInWorkingCapital to label_IncreaseDecreaseInWorkingCapital" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:title="CashFlowsFromUsedInInvestingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInInvestingActivitiesAbstract" xml:lang="nl" id="label_CashFlowsFromUsedInInvestingActivitiesAbstract">Kasstromen uit hoofde van (gebruikt in) investeringsactiviteiten [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:title="Label : CashFlowsFromUsedInInvestingActivitiesAbstract to label_CashFlowsFromUsedInInvestingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInInvestingActivitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowsFromUsedInInvestingActivitiesAbstract_1" xml:lang="nl" id="label_CashFlowsFromUsedInInvestingActivitiesAbstract_1">INVESTERINGSACTIVITEITEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInInvestingActivitiesAbstract_1" xlink:title="Label : CashFlowsFromUsedInInvestingActivitiesAbstract to label_CashFlowsFromUsedInInvestingActivitiesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:label="PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:title="PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xml:lang="nl" id="label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities">Aankoop van financiële instrumenten, geclassificeerd als investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:title="Label : PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities to label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities_1" xml:lang="nl" id="label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities_1">Aankoop van schuldpapier gewaardeerd tegen geamortiseerde kostprijs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities_1" xlink:title="Label : PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities to label_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:label="ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:title="ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xml:lang="nl" id="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities">Opbrengsten uit het verkopen of vervallen van financiële instrumenten, geclassificeerd als investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:to="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:title="Label : ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities to label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1" xml:lang="nl" id="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1">Opbrengst van de terugbetaling van schuldpapier gewaardeerd tegen geamortiseerde kostprijs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:to="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1" xlink:title="Label : ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities to label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:label="PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:title="PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xml:lang="nl" id="label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod">Aankoop van belangen in investeringen die administratief werden verwerkt volgens de vermogensmutatiemethode</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:to="label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:title="Label : PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod to label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_1" xml:lang="nl" id="label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_1">Aankoop van aandelen in geassocieerde ondernemingen en joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:to="label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_1" xlink:title="Label : PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod to label_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:label="ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:title="ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xml:lang="nl" id="label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod">Opbrengsten uit de verkoop van investeringen die administratief werden verwerkt volgens de vermogensmutatiemethode</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:to="label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:title="Label : ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod to label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_1" xml:lang="nl" id="label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_1">Opbrengst van de verkoop van aandelen in geassocieerde ondernemingen en joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:to="label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_1" xlink:title="Label : ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod to label_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsReceivedClassifiedAsInvestingActivities" xlink:label="DividendsReceivedClassifiedAsInvestingActivities" xlink:title="DividendsReceivedClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivedClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsReceivedClassifiedAsInvestingActivities" xml:lang="nl" id="label_DividendsReceivedClassifiedAsInvestingActivities">Ontvangen dividenden, geclassificeerd als investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivedClassifiedAsInvestingActivities" xlink:to="label_DividendsReceivedClassifiedAsInvestingActivities" xlink:title="Label : DividendsReceivedClassifiedAsInvestingActivities to label_DividendsReceivedClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivedClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsReceivedClassifiedAsInvestingActivities_1" xml:lang="nl" id="label_DividendsReceivedClassifiedAsInvestingActivities_1">Dividenden ontvangen van geassocieerde ondernemingen en joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivedClassifiedAsInvestingActivities" xlink:to="label_DividendsReceivedClassifiedAsInvestingActivities_1" xlink:title="Label : DividendsReceivedClassifiedAsInvestingActivities to label_DividendsReceivedClassifiedAsInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfInvestmentProperty" xlink:label="PurchaseOfInvestmentProperty" xlink:title="PurchaseOfInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfInvestmentProperty" xml:lang="nl" id="label_PurchaseOfInvestmentProperty">Aankoop van vastgoedbeleggingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfInvestmentProperty" xlink:to="label_PurchaseOfInvestmentProperty" xlink:title="Label : PurchaseOfInvestmentProperty to label_PurchaseOfInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfInvestmentProperty_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PurchaseOfInvestmentProperty_1" xml:lang="nl" id="label_PurchaseOfInvestmentProperty_1">Aankoop van vastgoedbeleggingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfInvestmentProperty" xlink:to="label_PurchaseOfInvestmentProperty_1" xlink:title="Label : PurchaseOfInvestmentProperty to label_PurchaseOfInvestmentProperty_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromSalesOfInvestmentProperty" xlink:label="ProceedsFromSalesOfInvestmentProperty" xlink:title="ProceedsFromSalesOfInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOfInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSalesOfInvestmentProperty" xml:lang="nl" id="label_ProceedsFromSalesOfInvestmentProperty">Opbrengsten uit de verkoop van vastgoedbeleggingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfInvestmentProperty" xlink:to="label_ProceedsFromSalesOfInvestmentProperty" xlink:title="Label : ProceedsFromSalesOfInvestmentProperty to label_ProceedsFromSalesOfInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOfInvestmentProperty_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSalesOfInvestmentProperty_1" xml:lang="nl" id="label_ProceedsFromSalesOfInvestmentProperty_1">Opbrengst van de verkoop van vastgoedbeleggingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfInvestmentProperty" xlink:to="label_ProceedsFromSalesOfInvestmentProperty_1" xlink:title="Label : ProceedsFromSalesOfInvestmentProperty to label_ProceedsFromSalesOfInvestmentProperty_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:label="GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:title="GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xml:lang="nl" id="label_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss">Winsten (verliezen) uit hoofde van financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="label_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:title="Label : GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss to label_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:label="GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:title="GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xml:lang="nl" id="label_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss">Winsten (verliezen) uit hoofde van financiële verplichtingen gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:to="label_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:title="Label : GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss to label_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="CashFlowsFromUsedInInvestingActivities" xlink:title="CashFlowsFromUsedInInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInInvestingActivities" xml:lang="nl" id="label_CashFlowsFromUsedInInvestingActivities">Kasstromen uit hoofde van (gebruikt in) investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="label_CashFlowsFromUsedInInvestingActivities" xlink:title="Label : CashFlowsFromUsedInInvestingActivities to label_CashFlowsFromUsedInInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashFlowsFromUsedInInvestingActivities_1" xml:lang="nl" id="label_CashFlowsFromUsedInInvestingActivities_1">Nettokasstromen uit of aangewend bij investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="label_CashFlowsFromUsedInInvestingActivities_1" xlink:title="Label : CashFlowsFromUsedInInvestingActivities to label_CashFlowsFromUsedInInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xml:lang="nl" id="label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities">Opbrengsten uit de verkoop van materiële vaste activa, geclassificeerd als investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="Label : ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities to label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1" xml:lang="nl" id="label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1">Opbrengst van de verkoop van materiële vaste activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1" xlink:title="Label : ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities to label_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xml:lang="nl" id="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities">Aankoop van materiële vaste activa, geclassificeerd als investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:title="Label : PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities to label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1" xml:lang="nl" id="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1">Aankoop van materiële vaste activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1" xlink:title="Label : PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities to label_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:label="ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:title="ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xml:lang="nl" id="label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities">Opbrengsten uit de verkoop van immateriële activa, geclassificeerd als investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:title="Label : ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities to label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities_1" xml:lang="nl" id="label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities_1">Opbrengst van de verkoop van immateriële vaste activa (exclusief goodwill)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities_1" xlink:title="Label : ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities to label_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:label="PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:title="PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xml:lang="nl" id="label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities">Aankoop van immateriële activa, geclassificeerd als investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:title="Label : PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities to label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_1" xml:lang="nl" id="label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_1">Aankoop van immateriële vaste activa (exclusief goodwill)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_1" xlink:title="Label : PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities to label_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RestrictedCashAndCashEquivalents" xlink:label="RestrictedCashAndCashEquivalents" xlink:title="RestrictedCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedCashAndCashEquivalents" xml:lang="nl" id="label_RestrictedCashAndCashEquivalents">Aan restricties onderhevige geldmiddelen en kasequivalenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalents" xlink:to="label_RestrictedCashAndCashEquivalents" xlink:title="Label : RestrictedCashAndCashEquivalents to label_RestrictedCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedCashAndCashEquivalents_1" xml:lang="nl" id="label_RestrictedCashAndCashEquivalents_1">Waarvan niet beschikbaar</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalents" xlink:to="label_RestrictedCashAndCashEquivalents_1" xlink:title="Label : RestrictedCashAndCashEquivalents to label_RestrictedCashAndCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:label="CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:title="CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xml:lang="nl" id="label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale">Geldmiddelen en kasequivalenten geclassificeerd als deel van een groep activa die wordt afgestoten en is aangehouden voor verkoop</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:to="label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:title="Label : CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale to label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale_1" xml:lang="nl" id="label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale_1">Geldmiddelen en kasequivalenten inbegrepen in groepen activa die worden afgestoten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale" xlink:to="label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale_1" xlink:title="Label : CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale to label_CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:label="ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:title="ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" />
    <link:label xlink:type="resource" xlink:label="label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xml:lang="nl" id="label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed">Omgekeerde terugkoopovereenkomsten en zekerheden in de vorm van contanten uit hoofde van geleende effecten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:to="label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:title="Label : ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed to label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" />
    <link:label xlink:type="resource" xlink:label="label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_1" xml:lang="nl" id="label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_1">Reverse repo’s met kredietinstellingen en beleggingsondernemingen op maximaal 3 maanden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:to="label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_1" xlink:title="Label : ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed to label_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LoansAndAdvancesToBanks" xlink:label="LoansAndAdvancesToBanks" xlink:title="LoansAndAdvancesToBanks" />
    <link:label xlink:type="resource" xlink:label="label_LoansAndAdvancesToBanks" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoansAndAdvancesToBanks" xml:lang="nl" id="label_LoansAndAdvancesToBanks">Leningen en voorschotten aan banken</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansAndAdvancesToBanks" xlink:to="label_LoansAndAdvancesToBanks" xlink:title="Label : LoansAndAdvancesToBanks to label_LoansAndAdvancesToBanks" />
    <link:label xlink:type="resource" xlink:label="label_LoansAndAdvancesToBanks_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoansAndAdvancesToBanks_1" xml:lang="nl" id="label_LoansAndAdvancesToBanks_1">Termijnleningen aan banken in minder dan drie maanden, zonder reverse repo’s</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansAndAdvancesToBanks" xlink:to="label_LoansAndAdvancesToBanks_1" xlink:title="Label : LoansAndAdvancesToBanks to label_LoansAndAdvancesToBanks_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="CashAndCashEquivalentsAbstract" xlink:title="CashAndCashEquivalentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsAbstract" xml:lang="nl" id="label_CashAndCashEquivalentsAbstract">Geldmiddelen en kasequivalenten [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="label_CashAndCashEquivalentsAbstract" xlink:title="Label : CashAndCashEquivalentsAbstract to label_CashAndCashEquivalentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsAbstract_1" xml:lang="nl" id="label_CashAndCashEquivalentsAbstract_1">COMPONENTEN VAN GELDMIDDELEN EN KASEQUIVALENTEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAbstract" xlink:to="label_CashAndCashEquivalentsAbstract_1" xlink:title="Label : CashAndCashEquivalentsAbstract to label_CashAndCashEquivalentsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsReceived" xlink:label="DividendsReceived" xlink:title="DividendsReceived" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsReceived" xml:lang="nl" id="label_DividendsReceived">Ontvangen dividenden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceived" xlink:to="label_DividendsReceived" xlink:title="Label : DividendsReceived to label_DividendsReceived" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceived_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsReceived_1" xml:lang="nl" id="label_DividendsReceived_1">Ontvangen dividenden (inclusief vermogensmutatiemethode)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceived" xlink:to="label_DividendsReceived_1" xlink:title="Label : DividendsReceived to label_DividendsReceived_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RevenueFromInterest" xlink:label="RevenueFromInterest" xlink:title="RevenueFromInterest" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueFromInterest" xml:lang="nl" id="label_RevenueFromInterest">Rentebaten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromInterest" xlink:to="label_RevenueFromInterest" xlink:title="Label : RevenueFromInterest to label_RevenueFromInterest" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromInterest_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueFromInterest_1" xml:lang="nl" id="label_RevenueFromInterest_1">Rente-inkomsten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromInterest" xlink:to="label_RevenueFromInterest_1" xlink:title="Label : RevenueFromInterest to label_RevenueFromInterest_1" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromInterest_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RevenueFromInterest_2" xml:lang="nl" id="label_RevenueFromInterest_2">Ontvangen rente</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromInterest" xlink:to="label_RevenueFromInterest_2" xlink:title="Label : RevenueFromInterest to label_RevenueFromInterest_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdditionalInformationAbstract" xlink:label="AdditionalInformationAbstract" xlink:title="AdditionalInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalInformationAbstract" xml:lang="nl" id="label_AdditionalInformationAbstract">Aanvullende informatie [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalInformationAbstract" xlink:to="label_AdditionalInformationAbstract" xlink:title="Label : AdditionalInformationAbstract to label_AdditionalInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalInformationAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalInformationAbstract_1" xml:lang="nl" id="label_AdditionalInformationAbstract_1">OVERIGE INFORMATIE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalInformationAbstract" xlink:to="label_AdditionalInformationAbstract_1" xlink:title="Label : AdditionalInformationAbstract to label_AdditionalInformationAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:title="EffectOfExchangeRateChangesOnCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xml:lang="nl" id="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents">Gevolgen van wisselkoerswijzigingen voor geldmiddelen en kasequivalenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:title="Label : EffectOfExchangeRateChangesOnCashAndCashEquivalents to label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1" xml:lang="nl" id="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1">Gevolgen van wisselkoerswijzigingen op geldmiddelen en kasequivalenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1" xlink:title="Label : EffectOfExchangeRateChangesOnCashAndCashEquivalents to label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="IncreaseDecreaseInCashAndCashEquivalents" xlink:title="IncreaseDecreaseInCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInCashAndCashEquivalents" xml:lang="nl" id="label_IncreaseDecreaseInCashAndCashEquivalents">Stijging (daling) van geldmiddelen en kasequivalenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInCashAndCashEquivalents" xlink:to="label_IncreaseDecreaseInCashAndCashEquivalents" xlink:title="Label : IncreaseDecreaseInCashAndCashEquivalents to label_IncreaseDecreaseInCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInCashAndCashEquivalents_1" xml:lang="nl" id="label_IncreaseDecreaseInCashAndCashEquivalents_1">Nettotoename of -afname van geldmiddelen en kasequivalenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInCashAndCashEquivalents" xlink:to="label_IncreaseDecreaseInCashAndCashEquivalents_1" xlink:title="Label : IncreaseDecreaseInCashAndCashEquivalents to label_IncreaseDecreaseInCashAndCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:title="CashFlowsFromUsedInFinancingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInFinancingActivitiesAbstract" xml:lang="nl" id="label_CashFlowsFromUsedInFinancingActivitiesAbstract">Kasstromen uit hoofde van (gebruikt in) financieringsactiviteiten [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:title="Label : CashFlowsFromUsedInFinancingActivitiesAbstract to label_CashFlowsFromUsedInFinancingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowsFromUsedInFinancingActivitiesAbstract_1" xml:lang="nl" id="label_CashFlowsFromUsedInFinancingActivitiesAbstract_1">FINANCIERINGSACTIVITEITEN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInFinancingActivitiesAbstract_1" xlink:title="Label : CashFlowsFromUsedInFinancingActivitiesAbstract to label_CashFlowsFromUsedInFinancingActivitiesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares" xlink:label="ProceedsFromSaleOrIssueOfTreasuryShares" xlink:title="ProceedsFromSaleOrIssueOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleOrIssueOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSaleOrIssueOfTreasuryShares" xml:lang="nl" id="label_ProceedsFromSaleOrIssueOfTreasuryShares">Opbrengsten uit de verkoop of uitgifte van ingekochte eigen aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleOrIssueOfTreasuryShares" xlink:to="label_ProceedsFromSaleOrIssueOfTreasuryShares" xlink:title="Label : ProceedsFromSaleOrIssueOfTreasuryShares to label_ProceedsFromSaleOrIssueOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleOrIssueOfTreasuryShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSaleOrIssueOfTreasuryShares_1" xml:lang="nl" id="label_ProceedsFromSaleOrIssueOfTreasuryShares_1">Inkoop of verkoop van eigen aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleOrIssueOfTreasuryShares" xlink:to="label_ProceedsFromSaleOrIssueOfTreasuryShares_1" xlink:title="Label : ProceedsFromSaleOrIssueOfTreasuryShares to label_ProceedsFromSaleOrIssueOfTreasuryShares_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssuingShares" xml:lang="nl" id="label_ProceedsFromIssuingShares">Opbrengsten uit de uitgifte van aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuingShares" xlink:to="label_ProceedsFromIssuingShares" xlink:title="Label : ProceedsFromIssuingShares to label_ProceedsFromIssuingShares" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuingShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssuingShares_1" xml:lang="nl" id="label_ProceedsFromIssuingShares_1">Opbrengst van de uitgifte van aandelenkapitaal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuingShares" xlink:to="label_ProceedsFromIssuingShares_1" xlink:title="Label : ProceedsFromIssuingShares to label_ProceedsFromIssuingShares_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="ProceedsFromBorrowingsClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xml:lang="nl" id="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities">Opbrengsten uit leningen, geclassificeerd als financieringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="label_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:title="Label : ProceedsFromBorrowingsClassifiedAsFinancingActivities to label_ProceedsFromBorrowingsClassifiedAsFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="nl" id="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">Terugbetalingen van leningen, geclassificeerd als financieringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="Label : RepaymentsOfBorrowingsClassifiedAsFinancingActivities to label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://www.esma.europa.eu/taxonomy/2020-03-16/esef_cor.xsd#esef_cor_NotesAccountingPoliciesAndMandatoryTags" xlink:label="NotesAccountingPoliciesAndMandatoryTags" xlink:title="NotesAccountingPoliciesAndMandatoryTags" />
    <link:label xlink:type="resource" xlink:label="label_NotesAccountingPoliciesAndMandatoryTags" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotesAccountingPoliciesAndMandatoryTags" xml:lang="nl" id="label_NotesAccountingPoliciesAndMandatoryTags">Placeholder "Toelichtingen, grondslagen voor financiële verslaggeving en verplichte basistaxonomie-elementen" – deze post MOET worden gebruikt als uitgangspunt voor markeringen van informatie in de toelichtingen bij de jaarrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotesAccountingPoliciesAndMandatoryTags" xlink:to="label_NotesAccountingPoliciesAndMandatoryTags" xlink:title="Label : NotesAccountingPoliciesAndMandatoryTags to label_NotesAccountingPoliciesAndMandatoryTags" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:label="NameOfReportingEntityOrOtherMeansOfIdentification" xlink:title="NameOfReportingEntityOrOtherMeansOfIdentification" />
    <link:label xlink:type="resource" xlink:label="label_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NameOfReportingEntityOrOtherMeansOfIdentification" xml:lang="nl" id="label_NameOfReportingEntityOrOtherMeansOfIdentification">Naam van de verslaggevende entiteit of een andere vorm van identificatie</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NameOfReportingEntityOrOtherMeansOfIdentification" xlink:to="label_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:title="Label : NameOfReportingEntityOrOtherMeansOfIdentification to label_NameOfReportingEntityOrOtherMeansOfIdentification" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod" xlink:label="ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod" xlink:title="ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod" />
    <link:label xlink:type="resource" xlink:label="label_ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod" xml:lang="nl" id="label_ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod">Verklaring van wijziging in de naam van de verslaggevende entiteit of een andere vorm van identificatie ten opzichte van het einde van de vorige verslagperiode</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod" xlink:to="label_ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod" xlink:title="Label : ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod to label_ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DomicileOfEntity" xlink:label="DomicileOfEntity" xlink:title="DomicileOfEntity" />
    <link:label xlink:type="resource" xlink:label="label_DomicileOfEntity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DomicileOfEntity" xml:lang="nl" id="label_DomicileOfEntity">Domicilie van de entiteit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DomicileOfEntity" xlink:to="label_DomicileOfEntity" xlink:title="Label : DomicileOfEntity to label_DomicileOfEntity" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LegalFormOfEntity" xlink:label="LegalFormOfEntity" xlink:title="LegalFormOfEntity" />
    <link:label xlink:type="resource" xlink:label="label_LegalFormOfEntity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalFormOfEntity" xml:lang="nl" id="label_LegalFormOfEntity">Rechtsvorm van de entiteit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalFormOfEntity" xlink:to="label_LegalFormOfEntity" xlink:title="Label : LegalFormOfEntity to label_LegalFormOfEntity" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CountryOfIncorporation" xlink:label="CountryOfIncorporation" xlink:title="CountryOfIncorporation" />
    <link:label xlink:type="resource" xlink:label="label_CountryOfIncorporation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CountryOfIncorporation" xml:lang="nl" id="label_CountryOfIncorporation">Land van oprichting</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CountryOfIncorporation" xlink:to="label_CountryOfIncorporation" xlink:title="Label : CountryOfIncorporation to label_CountryOfIncorporation" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AddressOfRegisteredOfficeOfEntity" xlink:label="AddressOfRegisteredOfficeOfEntity" xlink:title="AddressOfRegisteredOfficeOfEntity" />
    <link:label xlink:type="resource" xlink:label="label_AddressOfRegisteredOfficeOfEntity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AddressOfRegisteredOfficeOfEntity" xml:lang="nl" id="label_AddressOfRegisteredOfficeOfEntity">Adres van de statutaire zetel van de entiteit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AddressOfRegisteredOfficeOfEntity" xlink:to="label_AddressOfRegisteredOfficeOfEntity" xlink:title="Label : AddressOfRegisteredOfficeOfEntity to label_AddressOfRegisteredOfficeOfEntity" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PrincipalPlaceOfBusiness" xlink:label="PrincipalPlaceOfBusiness" xlink:title="PrincipalPlaceOfBusiness" />
    <link:label xlink:type="resource" xlink:label="label_PrincipalPlaceOfBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PrincipalPlaceOfBusiness" xml:lang="nl" id="label_PrincipalPlaceOfBusiness">Hoofdvestiging</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrincipalPlaceOfBusiness" xlink:to="label_PrincipalPlaceOfBusiness" xlink:title="Label : PrincipalPlaceOfBusiness to label_PrincipalPlaceOfBusiness" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xlink:label="DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xlink:title="DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xml:lang="nl" id="label_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities">Beschrijving van de aard van de activiteiten van de entiteit en haar voornaamste bedrijvigheden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xlink:to="label_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" xlink:title="Label : DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities to label_DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NameOfParentEntity" xlink:label="NameOfParentEntity" xlink:title="NameOfParentEntity" />
    <link:label xlink:type="resource" xlink:label="label_NameOfParentEntity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NameOfParentEntity" xml:lang="nl" id="label_NameOfParentEntity">Naam van de moedermaatschappij</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NameOfParentEntity" xlink:to="label_NameOfParentEntity" xlink:title="Label : NameOfParentEntity to label_NameOfParentEntity" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NameOfUltimateParentOfGroup" xlink:label="NameOfUltimateParentOfGroup" xlink:title="NameOfUltimateParentOfGroup" />
    <link:label xlink:type="resource" xlink:label="label_NameOfUltimateParentOfGroup" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NameOfUltimateParentOfGroup" xml:lang="nl" id="label_NameOfUltimateParentOfGroup">Naam van de hoofdmoedermaatschappij van de groep</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NameOfUltimateParentOfGroup" xlink:to="label_NameOfUltimateParentOfGroup" xlink:title="Label : NameOfUltimateParentOfGroup to label_NameOfUltimateParentOfGroup" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="CashFlowsFromUsedInFinancingActivities" xlink:title="CashFlowsFromUsedInFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInFinancingActivities" xml:lang="nl" id="label_CashFlowsFromUsedInFinancingActivities">Kasstromen uit hoofde van (gebruikt in) financieringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="label_CashFlowsFromUsedInFinancingActivities" xlink:title="Label : CashFlowsFromUsedInFinancingActivities to label_CashFlowsFromUsedInFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashFlowsFromUsedInFinancingActivities_1" xml:lang="nl" id="label_CashFlowsFromUsedInFinancingActivities_1">Nettokasstromen uit of aangewend bij financieringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivities" xlink:to="label_CashFlowsFromUsedInFinancingActivities_1" xlink:title="Label : CashFlowsFromUsedInFinancingActivities to label_CashFlowsFromUsedInFinancingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IssuedCapitalMember" xlink:label="IssuedCapitalMember" xlink:title="IssuedCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssuedCapitalMember" xml:lang="nl" id="label_IssuedCapitalMember">Geplaatst en volgestort aandelenkapitaal [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalMember" xlink:to="label_IssuedCapitalMember" xlink:title="Label : IssuedCapitalMember to label_IssuedCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_IssuedCapitalMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssuedCapitalMember_1" xml:lang="nl" id="label_IssuedCapitalMember_1">Ge-plaatst en vol-gestort aande-lenkapi-taal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalMember" xlink:to="label_IssuedCapitalMember_1" xlink:title="Label : IssuedCapitalMember to label_IssuedCapitalMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_SharePremiumMember" xlink:label="SharePremiumMember" xlink:title="SharePremiumMember" />
    <link:label xlink:type="resource" xlink:label="label_SharePremiumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharePremiumMember" xml:lang="nl" id="label_SharePremiumMember">Agio [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePremiumMember" xlink:to="label_SharePremiumMember" xlink:title="Label : SharePremiumMember to label_SharePremiumMember" />
    <link:label xlink:type="resource" xlink:label="label_SharePremiumMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SharePremiumMember_1" xml:lang="nl" id="label_SharePremiumMember_1">Uitgifte-premie</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePremiumMember" xlink:to="label_SharePremiumMember_1" xlink:title="Label : SharePremiumMember to label_SharePremiumMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TreasurySharesMember" xlink:label="TreasurySharesMember" xlink:title="TreasurySharesMember" />
    <link:label xlink:type="resource" xlink:label="label_TreasurySharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TreasurySharesMember" xml:lang="nl" id="label_TreasurySharesMember">Ingekochte eigen aandelen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasurySharesMember" xlink:to="label_TreasurySharesMember" xlink:title="Label : TreasurySharesMember to label_TreasurySharesMember" />
    <link:label xlink:type="resource" xlink:label="label_TreasurySharesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TreasurySharesMember_1" xml:lang="nl" id="label_TreasurySharesMember_1">Eigen aande-len</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasurySharesMember" xlink:to="label_TreasurySharesMember_1" xlink:title="Label : TreasurySharesMember to label_TreasurySharesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarningsMember" xml:lang="nl" id="label_RetainedEarningsMember">Ingehouden winsten [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="label_RetainedEarningsMember" xlink:title="Label : RetainedEarningsMember to label_RetainedEarningsMember" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RetainedEarningsMember_1" xml:lang="nl" id="label_RetainedEarningsMember_1">Overge-dragen resul-taat</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="label_RetainedEarningsMember_1" xlink:title="Label : RetainedEarningsMember to label_RetainedEarningsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalents" xml:lang="nl" id="label_CashAndCashEquivalents">Geldmiddelen en kasequivalenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents" xlink:title="Label : CashAndCashEquivalents to label_CashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashAndCashEquivalents_1" xml:lang="nl" id="label_CashAndCashEquivalents_1">Totaal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents_1" xlink:title="Label : CashAndCashEquivalents to label_CashAndCashEquivalents_1" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_CashAndCashEquivalents_2" xml:lang="nl" id="label_CashAndCashEquivalents_2">Geldmiddelen en kasequivalenten aan het einde van de periode</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents_2" xlink:title="Label : CashAndCashEquivalents to label_CashAndCashEquivalents_2" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalents_3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_CashAndCashEquivalents_3" xml:lang="nl" id="label_CashAndCashEquivalents_3">Geldmiddelen en kasequivalenten aan het begin van het boekjaar</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents_3" xlink:title="Label : CashAndCashEquivalents to label_CashAndCashEquivalents_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DepositsFromBanks" xlink:label="DepositsFromBanks" xlink:title="DepositsFromBanks" />
    <link:label xlink:type="resource" xlink:label="label_DepositsFromBanks" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepositsFromBanks" xml:lang="nl" id="label_DepositsFromBanks">Deposito's van banken</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepositsFromBanks" xlink:to="label_DepositsFromBanks" xlink:title="Label : DepositsFromBanks to label_DepositsFromBanks" />
    <link:label xlink:type="resource" xlink:label="label_DepositsFromBanks_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DepositsFromBanks_1" xml:lang="nl" id="label_DepositsFromBanks_1">Deposito’s van banken terugbetaalbaar op verzoek en onmiddellijk terugbetaalbaar</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepositsFromBanks" xlink:to="label_DepositsFromBanks_1" xlink:title="Label : DepositsFromBanks to label_DepositsFromBanks_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ChangesInEquity" xlink:label="ChangesInEquity" xlink:title="ChangesInEquity" />
    <link:label xlink:type="resource" xlink:label="label_ChangesInEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangesInEquity" xml:lang="nl" id="label_ChangesInEquity">Stijging (daling) van eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInEquity" xlink:to="label_ChangesInEquity" xlink:title="Label : ChangesInEquity to label_ChangesInEquity" />
    <link:label xlink:type="resource" xlink:label="label_ChangesInEquity_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ChangesInEquity_1" xml:lang="nl" id="label_ChangesInEquity_1">Totaal wijzigingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInEquity" xlink:to="label_ChangesInEquity_1" xlink:title="Label : ChangesInEquity to label_ChangesInEquity_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialLiabilities" xlink:label="FinancialLiabilities" xlink:title="FinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilities" xml:lang="nl" id="label_FinancialLiabilities">Financiële verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities" xlink:title="Label : FinancialLiabilities to label_FinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_FinancialLiabilities_1" xml:lang="nl" id="label_FinancialLiabilities_1">Financiële verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities_1" xlink:title="Label : FinancialLiabilities to label_FinancialLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_PropertyAndEquipmentAndInvestmentProperty" xlink:label="PropertyAndEquipmentAndInvestmentProperty" xlink:title="PropertyAndEquipmentAndInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_PropertyAndEquipmentAndInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertyAndEquipmentAndInvestmentProperty" xml:lang="nl" id="label_PropertyAndEquipmentAndInvestmentProperty">De hoeveelheid materiële vaste activa en vastgoedbeleggingen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyAndEquipmentAndInvestmentProperty" xlink:to="label_PropertyAndEquipmentAndInvestmentProperty" xlink:title="Label : PropertyAndEquipmentAndInvestmentProperty to label_PropertyAndEquipmentAndInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_PropertyAndEquipmentAndInvestmentProperty_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyAndEquipmentAndInvestmentProperty_1" xml:lang="nl" id="label_PropertyAndEquipmentAndInvestmentProperty_1">Materiële vaste activa en vastgoedbeleggingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyAndEquipmentAndInvestmentProperty" xlink:to="label_PropertyAndEquipmentAndInvestmentProperty_1" xlink:title="Label : PropertyAndEquipmentAndInvestmentProperty to label_PropertyAndEquipmentAndInvestmentProperty_1" />
    <link:label xlink:type="resource" xlink:label="label_PropertyAndEquipmentAndInvestmentProperty_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyAndEquipmentAndInvestmentProperty_2" xml:lang="nl" id="label_PropertyAndEquipmentAndInvestmentProperty_2">Materiële vaste activa en vastgoedbeleggingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyAndEquipmentAndInvestmentProperty" xlink:to="label_PropertyAndEquipmentAndInvestmentProperty_2" xlink:title="Label : PropertyAndEquipmentAndInvestmentProperty to label_PropertyAndEquipmentAndInvestmentProperty_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_TaxLiabilities" xlink:label="TaxLiabilities" xlink:title="TaxLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_TaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxLiabilities" xml:lang="nl" id="label_TaxLiabilities">Het bedrag van de belastingverplichtingen bestaande uit actuele belastingverplichtingen en uitgestelde belastingverplichtingen. De over de verslagperiode verschuldigde en verrekenbare belasting is het bedrag van de te betalen (terug te vorderen) winstbelasting over de belastbare winst (het fiscaal verlies) van een periode. Uitgestelde belastingen zijn het bedrag van de in toekomstige perioden verschuldigde winstbelastingen met betrekking tot belastbare tijdelijke verschillen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxLiabilities" xlink:to="label_TaxLiabilities" xlink:title="Label : TaxLiabilities to label_TaxLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_TaxLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxLiabilities_1" xml:lang="nl" id="label_TaxLiabilities_1">Belastingverplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxLiabilities" xlink:to="label_TaxLiabilities_1" xlink:title="Label : TaxLiabilities to label_TaxLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_TaxLiabilities_2" xml:lang="nl" id="label_TaxLiabilities_2">Belastingverplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxLiabilities" xlink:to="label_TaxLiabilities_2" xlink:title="Label : TaxLiabilities to label_TaxLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdditionalTier1InstrumentsIncludedInEquity" xlink:label="AdditionalTier1InstrumentsIncludedInEquity" xlink:title="AdditionalTier1InstrumentsIncludedInEquity" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalTier1InstrumentsIncludedInEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdditionalTier1InstrumentsIncludedInEquity" xml:lang="nl" id="label_AdditionalTier1InstrumentsIncludedInEquity">Een component van het eigen vermogen die de aanvullende tier-1-instrumenten van de entiteit vertegenwoordigt.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalTier1InstrumentsIncludedInEquity" xlink:to="label_AdditionalTier1InstrumentsIncludedInEquity" xlink:title="Label : AdditionalTier1InstrumentsIncludedInEquity to label_AdditionalTier1InstrumentsIncludedInEquity" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalTier1InstrumentsIncludedInEquity_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalTier1InstrumentsIncludedInEquity_1" xml:lang="nl" id="label_AdditionalTier1InstrumentsIncludedInEquity_1">Additional tier 1-instrumenten opgenomen in eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalTier1InstrumentsIncludedInEquity" xlink:to="label_AdditionalTier1InstrumentsIncludedInEquity_1" xlink:title="Label : AdditionalTier1InstrumentsIncludedInEquity to label_AdditionalTier1InstrumentsIncludedInEquity_1" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalTier1InstrumentsIncludedInEquity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalTier1InstrumentsIncludedInEquity_2" xml:lang="nl" id="label_AdditionalTier1InstrumentsIncludedInEquity_2">Additional tier 1-instrumenten opgenomen in eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalTier1InstrumentsIncludedInEquity" xlink:to="label_AdditionalTier1InstrumentsIncludedInEquity_2" xlink:title="Label : AdditionalTier1InstrumentsIncludedInEquity to label_AdditionalTier1InstrumentsIncludedInEquity_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" xlink:label="EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" xlink:title="EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" />
    <link:label xlink:type="resource" xlink:label="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" xml:lang="nl" id="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance">Het bedrag van de verdiende premies (vóór herverzekering) op schadeverzekeringscontracten na aftrek van de technische lasten op basis van IFRS 4.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" xlink:to="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" xlink:title="Label : EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance to label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" />
    <link:label xlink:type="resource" xlink:label="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_1" xml:lang="nl" id="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_1">Verzekeringen Niet-leven (vóór herverzekering)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" xlink:to="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_1" xlink:title="Label : EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance to label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_1" />
    <link:label xlink:type="resource" xlink:label="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_2" xml:lang="nl" id="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_2">Verzekeringen Niet-leven (vóór herverzekering)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance" xlink:to="label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_2" xlink:title="Label : EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance to label_EarnedPremiumLessTechnicalChargesNonLifeInsuranceBeforeReinsurance_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_IncomeArisingFromNonLifeInsuranceContracts" xlink:label="IncomeArisingFromNonLifeInsuranceContracts" xlink:title="IncomeArisingFromNonLifeInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_IncomeArisingFromNonLifeInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncomeArisingFromNonLifeInsuranceContracts" xml:lang="nl" id="label_IncomeArisingFromNonLifeInsuranceContracts">Het bedrag aan inkomsten uit schadeverzekeringscontracten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeArisingFromNonLifeInsuranceContracts" xlink:to="label_IncomeArisingFromNonLifeInsuranceContracts" xlink:title="Label : IncomeArisingFromNonLifeInsuranceContracts to label_IncomeArisingFromNonLifeInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_IncomeArisingFromNonLifeInsuranceContracts_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeArisingFromNonLifeInsuranceContracts_1" xml:lang="nl" id="label_IncomeArisingFromNonLifeInsuranceContracts_1">Verdiende premies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeArisingFromNonLifeInsuranceContracts" xlink:to="label_IncomeArisingFromNonLifeInsuranceContracts_1" xlink:title="Label : IncomeArisingFromNonLifeInsuranceContracts to label_IncomeArisingFromNonLifeInsuranceContracts_1" />
    <link:label xlink:type="resource" xlink:label="label_IncomeArisingFromNonLifeInsuranceContracts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeArisingFromNonLifeInsuranceContracts_2" xml:lang="nl" id="label_IncomeArisingFromNonLifeInsuranceContracts_2">Verdiende premies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeArisingFromNonLifeInsuranceContracts" xlink:to="label_IncomeArisingFromNonLifeInsuranceContracts_2" xlink:title="Label : IncomeArisingFromNonLifeInsuranceContracts to label_IncomeArisingFromNonLifeInsuranceContracts_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ExpenseArisingFromNonLifeInsuranceContracts" xlink:label="ExpenseArisingFromNonLifeInsuranceContracts" xlink:title="ExpenseArisingFromNonLifeInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseArisingFromNonLifeInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExpenseArisingFromNonLifeInsuranceContracts" xml:lang="nl" id="label_ExpenseArisingFromNonLifeInsuranceContracts">Het bedrag van de kosten die voortvloeien uit schadeverzekeringscontracten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseArisingFromNonLifeInsuranceContracts" xlink:to="label_ExpenseArisingFromNonLifeInsuranceContracts" xlink:title="Label : ExpenseArisingFromNonLifeInsuranceContracts to label_ExpenseArisingFromNonLifeInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseArisingFromNonLifeInsuranceContracts_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseArisingFromNonLifeInsuranceContracts_1" xml:lang="nl" id="label_ExpenseArisingFromNonLifeInsuranceContracts_1">Technische lasten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseArisingFromNonLifeInsuranceContracts" xlink:to="label_ExpenseArisingFromNonLifeInsuranceContracts_1" xlink:title="Label : ExpenseArisingFromNonLifeInsuranceContracts to label_ExpenseArisingFromNonLifeInsuranceContracts_1" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseArisingFromNonLifeInsuranceContracts_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ExpenseArisingFromNonLifeInsuranceContracts_2" xml:lang="nl" id="label_ExpenseArisingFromNonLifeInsuranceContracts_2">Technische lasten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseArisingFromNonLifeInsuranceContracts" xlink:to="label_ExpenseArisingFromNonLifeInsuranceContracts_2" xlink:title="Label : ExpenseArisingFromNonLifeInsuranceContracts to label_ExpenseArisingFromNonLifeInsuranceContracts_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" xlink:label="EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" xlink:title="EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" />
    <link:label xlink:type="resource" xlink:label="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" xml:lang="nl" id="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance">Het bedrag aan verdiende premies (vóór herverzekering) voor levensverzekeringscontracten na aftrek van technische lasten op basis van IFRS 4.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" xlink:to="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" xlink:title="Label : EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance to label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" />
    <link:label xlink:type="resource" xlink:label="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_1" xml:lang="nl" id="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_1">Verzekeringen Leven (vóór herverzekering)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" xlink:to="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_1" xlink:title="Label : EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance to label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_1" />
    <link:label xlink:type="resource" xlink:label="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_2" xml:lang="nl" id="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_2">Verzekeringen Leven (vóór herverzekering)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance" xlink:to="label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_2" xlink:title="Label : EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance to label_EarnedPremiumLessTechnicalChargesLifeInsuranceBeforeReinsurance_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_IncomeArisingFromLifeInsuranceContracts" xlink:label="IncomeArisingFromLifeInsuranceContracts" xlink:title="IncomeArisingFromLifeInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_IncomeArisingFromLifeInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncomeArisingFromLifeInsuranceContracts" xml:lang="nl" id="label_IncomeArisingFromLifeInsuranceContracts">Het bedrag aan inkomsten uit levensverzekeringscontracten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeArisingFromLifeInsuranceContracts" xlink:to="label_IncomeArisingFromLifeInsuranceContracts" xlink:title="Label : IncomeArisingFromLifeInsuranceContracts to label_IncomeArisingFromLifeInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_IncomeArisingFromLifeInsuranceContracts_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeArisingFromLifeInsuranceContracts_1" xml:lang="nl" id="label_IncomeArisingFromLifeInsuranceContracts_1">Verdiende premies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeArisingFromLifeInsuranceContracts" xlink:to="label_IncomeArisingFromLifeInsuranceContracts_1" xlink:title="Label : IncomeArisingFromLifeInsuranceContracts to label_IncomeArisingFromLifeInsuranceContracts_1" />
    <link:label xlink:type="resource" xlink:label="label_IncomeArisingFromLifeInsuranceContracts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeArisingFromLifeInsuranceContracts_2" xml:lang="nl" id="label_IncomeArisingFromLifeInsuranceContracts_2">Verdiende premies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeArisingFromLifeInsuranceContracts" xlink:to="label_IncomeArisingFromLifeInsuranceContracts_2" xlink:title="Label : IncomeArisingFromLifeInsuranceContracts to label_IncomeArisingFromLifeInsuranceContracts_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ExpenseArisingFromLifeInsuranceContracts" xlink:label="ExpenseArisingFromLifeInsuranceContracts" xlink:title="ExpenseArisingFromLifeInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseArisingFromLifeInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExpenseArisingFromLifeInsuranceContracts" xml:lang="nl" id="label_ExpenseArisingFromLifeInsuranceContracts">Het bedrag van de lasten die voortvloeien uit levensverzekeringscontracten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseArisingFromLifeInsuranceContracts" xlink:to="label_ExpenseArisingFromLifeInsuranceContracts" xlink:title="Label : ExpenseArisingFromLifeInsuranceContracts to label_ExpenseArisingFromLifeInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseArisingFromLifeInsuranceContracts_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseArisingFromLifeInsuranceContracts_1" xml:lang="nl" id="label_ExpenseArisingFromLifeInsuranceContracts_1">Technische lasten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseArisingFromLifeInsuranceContracts" xlink:to="label_ExpenseArisingFromLifeInsuranceContracts_1" xlink:title="Label : ExpenseArisingFromLifeInsuranceContracts to label_ExpenseArisingFromLifeInsuranceContracts_1" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseArisingFromLifeInsuranceContracts_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ExpenseArisingFromLifeInsuranceContracts_2" xml:lang="nl" id="label_ExpenseArisingFromLifeInsuranceContracts_2">Technische lasten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseArisingFromLifeInsuranceContracts" xlink:to="label_ExpenseArisingFromLifeInsuranceContracts_2" xlink:title="Label : ExpenseArisingFromLifeInsuranceContracts to label_ExpenseArisingFromLifeInsuranceContracts_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_CededReinsuranceResult" xlink:label="CededReinsuranceResult" xlink:title="CededReinsuranceResult" />
    <link:label xlink:type="resource" xlink:label="label_CededReinsuranceResult" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CededReinsuranceResult" xml:lang="nl" id="label_CededReinsuranceResult">Het bedrag aan baten (lasten) met betrekking tot het gecedeerde herverzekeringsresultaat.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CededReinsuranceResult" xlink:to="label_CededReinsuranceResult" xlink:title="Label : CededReinsuranceResult to label_CededReinsuranceResult" />
    <link:label xlink:type="resource" xlink:label="label_CededReinsuranceResult_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CededReinsuranceResult_1" xml:lang="nl" id="label_CededReinsuranceResult_1">Nettoresultaat uit afgestane herverzekering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CededReinsuranceResult" xlink:to="label_CededReinsuranceResult_1" xlink:title="Label : CededReinsuranceResult to label_CededReinsuranceResult_1" />
    <link:label xlink:type="resource" xlink:label="label_CededReinsuranceResult_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CededReinsuranceResult_2" xml:lang="nl" id="label_CededReinsuranceResult_2">Nettoresultaat uit afgestane herverzekering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CededReinsuranceResult" xlink:to="label_CededReinsuranceResult_2" xlink:title="Label : CededReinsuranceResult to label_CededReinsuranceResult_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" xlink:label="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" xlink:title="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" xml:lang="nl" id="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss">Het bedrag van het nettoresultaat uit financiële instrumenten tegen reële waarde met verwerking van waardeveranderingen in de winst- en verliesrekening.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" xlink:to="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" xlink:title="Label : NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss to label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_1" xml:lang="nl" id="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_1">Nettoresultaat uit financiële instrumenten tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" xlink:to="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_1" xlink:title="Label : NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss to label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_1" />
    <link:label xlink:type="resource" xlink:label="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_2" xml:lang="nl" id="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_2">Nettoresultaat uit financiële instrumenten tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss" xlink:to="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_2" xlink:title="Label : NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss to label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLoss_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" xlink:label="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" xlink:title="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" xml:lang="nl" id="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach">Het bedrag van het nettoresultaat uit financiële instrumenten tegen reële waarde met verwerking van waardeveranderingen in de winst- en verliesrekening met betrekking tot eigenvermogensinstrumenten (overlay-benadering).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" xlink:to="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" xlink:title="Label : NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach to label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_1" xml:lang="nl" id="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_1">Waarvan resultaat op aandelen (overlaybenadering)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" xlink:to="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_1" xlink:title="Label : NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach to label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_1" />
    <link:label xlink:type="resource" xlink:label="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_2" xml:lang="nl" id="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_2">Waarvan resultaat op aandelen (overlaybenadering)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach" xlink:to="label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_2" xlink:title="Label : NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach to label_NetResultFromFinancialInstrumentsAtFairValueThroughProfitOrLossRelatedToEquityInstrumentsOverlayApproach_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:label="NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:title="NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xml:lang="nl" id="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome">Het bedrag van het gerealiseerde nettoresultaat uit schuldinstrumenten tegen reële waarde met verwerking van waardeveranderingen in de winst- en verliesrekening.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:title="Label : NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome to label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_1" xml:lang="nl" id="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_1">Netto gerealiseerd resultaat uit schuldinstrumenten tegen reële waarde via OCI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_1" xlink:title="Label : NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome to label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_1" />
    <link:label xlink:type="resource" xlink:label="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_2" xml:lang="nl" id="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_2">Netto gerealiseerd resultaat uit schuldinstrumenten tegen reële waarde via OCI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_2" xlink:title="Label : NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome to label_NetRealisedResultFromDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ImpairmentOther" xlink:label="ImpairmentOther" xlink:title="ImpairmentOther" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ImpairmentOther" xml:lang="nl" id="label_ImpairmentOther">Het bedrag van de overige bijzondere waardeverminderingen die in de winst-en-verliesrekening zijn opgenomen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentOther" xlink:to="label_ImpairmentOther" xlink:title="Label : ImpairmentOther to label_ImpairmentOther" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentOther_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImpairmentOther_1" xml:lang="nl" id="label_ImpairmentOther_1">Bijzondere waardeverminderingen op overige</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentOther" xlink:to="label_ImpairmentOther_1" xlink:title="Label : ImpairmentOther to label_ImpairmentOther_1" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentOther_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ImpairmentOther_2" xml:lang="nl" id="label_ImpairmentOther_2">Bijzondere waardeverminderingen op overige</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentOther" xlink:to="label_ImpairmentOther_2" xlink:title="Label : ImpairmentOther to label_ImpairmentOther_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToImpairment" xlink:label="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToImpairment" xlink:title="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToImpairment" />
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToNetGainsOrLossesOnDisposal" xlink:label="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToNetGainsOrLossesOnDisposal" xlink:title="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToNetGainsOrLossesOnDisposal" />
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome" xlink:label="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome" xlink:title="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome" xlink:to="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome" xlink:title="Label : ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome to label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome_1" xml:lang="nl" id="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome_1">Uitgestelde belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome" xlink:to="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome_1" xlink:title="Label : ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome to label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome_1" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome_2" xml:lang="nl" id="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncome_2">Uitgestelde belastingen</link:label>
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach" xlink:label="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach" xlink:title="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach" xml:lang="nl" id="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach">Het bedrag van de herclassificatieaanpassingen op financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de niet-gerealiseerde resultaten in verband met uitgestelde belastingen op het resultaat voor de overlay-benadering.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach" xlink:to="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach" xlink:title="Label : ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach to label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach_1" xml:lang="nl" id="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach_1">Uitgestelde belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach" xlink:to="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach_1" xlink:title="Label : ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach to label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach_1" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach_2" xml:lang="nl" id="label_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeRelatedToDeferredTaxesOnIncomeForOverlayApproach_2">Uitgestelde belastingen</link:label>
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdditionalTier1InstrumentsIncludedInEquityMember" xlink:label="AdditionalTier1InstrumentsIncludedInEquityMember" xlink:title="AdditionalTier1InstrumentsIncludedInEquityMember" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalTier1InstrumentsIncludedInEquityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdditionalTier1InstrumentsIncludedInEquityMember" xml:lang="nl" id="label_AdditionalTier1InstrumentsIncludedInEquityMember">Dit lid staat voor een component van het eigen vermogen die een additioneel tier-1 instrument in het eigen vermogen vertegenwoordigt.</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalTier1InstrumentsIncludedInEquityMember" xlink:to="label_AdditionalTier1InstrumentsIncludedInEquityMember_1" xlink:title="Label : AdditionalTier1InstrumentsIncludedInEquityMember to label_AdditionalTier1InstrumentsIncludedInEquityMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalTier1InstrumentsIncludedInEquityMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalTier1InstrumentsIncludedInEquityMember_2" xml:lang="nl" id="label_AdditionalTier1InstrumentsIncludedInEquityMember_2">Additio-nal tier 1-instru-menten in eigen vermo-gen</link:label>
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForResultBeforeTaxFromDiscontinuedOperations" xlink:label="AdjustmentsForResultBeforeTaxFromDiscontinuedOperations" xlink:title="AdjustmentsForResultBeforeTaxFromDiscontinuedOperations" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForResultBeforeTaxFromDiscontinuedOperations" xlink:to="label_AdjustmentsForResultBeforeTaxFromDiscontinuedOperations_1" xlink:title="Label : AdjustmentsForResultBeforeTaxFromDiscontinuedOperations to label_AdjustmentsForResultBeforeTaxFromDiscontinuedOperations_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForResultBeforeTaxFromDiscontinuedOperations" xlink:to="label_AdjustmentsForResultBeforeTaxFromDiscontinuedOperations_2" xlink:title="Label : AdjustmentsForResultBeforeTaxFromDiscontinuedOperations to label_AdjustmentsForResultBeforeTaxFromDiscontinuedOperations_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForProfitLossOnDisposalOfInvestments" xlink:label="AdjustmentsForProfitLossOnDisposalOfInvestments" xlink:title="AdjustmentsForProfitLossOnDisposalOfInvestments" />
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    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_1" xml:lang="nl" id="label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_1">wijziging in technische voorzieningen vóór herverzekering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance" xlink:to="label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_1" xlink:title="Label : AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance to label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_2" xml:lang="nl" id="label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_2">wijziging in technische voorzieningen vóór herverzekering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance" xlink:to="label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_2" xlink:title="Label : AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance to label_AdjustmentsForChangeInTechnicalProvisionsBeforeReinsurance_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForChangeInOtherProvisions" xlink:label="AdjustmentsForChangeInOtherProvisions" xlink:title="AdjustmentsForChangeInOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForChangeInOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForChangeInOtherProvisions" xml:lang="nl" id="label_AdjustmentsForChangeInOtherProvisions">Correcties voor mutaties in de overige voorzieningen om de winst (verlies) aan te sluiten met de nettokasstroom uit (gebruikt bij) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForChangeInOtherProvisions" xlink:to="label_AdjustmentsForChangeInOtherProvisions" xlink:title="Label : AdjustmentsForChangeInOtherProvisions to label_AdjustmentsForChangeInOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForChangeInOtherProvisions_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForChangeInOtherProvisions_1" xml:lang="nl" id="label_AdjustmentsForChangeInOtherProvisions_1">wijzigingen in overige voorzieningen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForChangeInOtherProvisions" xlink:to="label_AdjustmentsForChangeInOtherProvisions_1" xlink:title="Label : AdjustmentsForChangeInOtherProvisions to label_AdjustmentsForChangeInOtherProvisions_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForChangeInOtherProvisions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForChangeInOtherProvisions_2" xml:lang="nl" id="label_AdjustmentsForChangeInOtherProvisions_2">wijzigingen in overige voorzieningen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForChangeInOtherProvisions" xlink:to="label_AdjustmentsForChangeInOtherProvisions_2" xlink:title="Label : AdjustmentsForChangeInOtherProvisions to label_AdjustmentsForChangeInOtherProvisions_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForOtherUnrealisedGainsLosses" xlink:label="AdjustmentsForOtherUnrealisedGainsLosses" xlink:title="AdjustmentsForOtherUnrealisedGainsLosses" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForOtherUnrealisedGainsLosses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForOtherUnrealisedGainsLosses" xml:lang="nl" id="label_AdjustmentsForOtherUnrealisedGainsLosses">Correcties voor overige niet-gerealiseerde (winsten) verliezen om de winst (het verlies) aan te sluiten met de nettokasstroom uit (gebruikt bij) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForOtherUnrealisedGainsLosses" xlink:to="label_AdjustmentsForOtherUnrealisedGainsLosses" xlink:title="Label : AdjustmentsForOtherUnrealisedGainsLosses to label_AdjustmentsForOtherUnrealisedGainsLosses" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForOtherUnrealisedGainsLosses_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForOtherUnrealisedGainsLosses_1" xml:lang="nl" id="label_AdjustmentsForOtherUnrealisedGainsLosses_1">overige niet-gerealiseerde winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForOtherUnrealisedGainsLosses" xlink:to="label_AdjustmentsForOtherUnrealisedGainsLosses_1" xlink:title="Label : AdjustmentsForOtherUnrealisedGainsLosses to label_AdjustmentsForOtherUnrealisedGainsLosses_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForOtherUnrealisedGainsLosses_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForOtherUnrealisedGainsLosses_2" xml:lang="nl" id="label_AdjustmentsForOtherUnrealisedGainsLosses_2">overige niet-gerealiseerde winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForOtherUnrealisedGainsLosses" xlink:to="label_AdjustmentsForOtherUnrealisedGainsLosses_2" xlink:title="Label : AdjustmentsForOtherUnrealisedGainsLosses to label_AdjustmentsForOtherUnrealisedGainsLosses_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ChangesInOperatingAssetsExcludingCashAndCashEquivalents" xlink:label="ChangesInOperatingAssetsExcludingCashAndCashEquivalents" xlink:title="ChangesInOperatingAssetsExcludingCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents" xml:lang="nl" id="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents">De wijzigingen in de bedrijfsactiva (exclusief geldmiddelen en kasequivalenten).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInOperatingAssetsExcludingCashAndCashEquivalents" xlink:to="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents" xlink:title="Label : ChangesInOperatingAssetsExcludingCashAndCashEquivalents to label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_1" xml:lang="nl" id="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_1">Wijzigingen in bedrijfsactiva (exclusief geldmiddelen en kasequivalenten)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInOperatingAssetsExcludingCashAndCashEquivalents" xlink:to="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_1" xlink:title="Label : ChangesInOperatingAssetsExcludingCashAndCashEquivalents to label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_1" />
    <link:label xlink:type="resource" xlink:label="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_2" xml:lang="nl" id="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_2">Wijzigingen in bedrijfsactiva (exclusief geldmiddelen en kasequivalenten)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInOperatingAssetsExcludingCashAndCashEquivalents" xlink:to="label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_2" xlink:title="Label : ChangesInOperatingAssetsExcludingCashAndCashEquivalents to label_ChangesInOperatingAssetsExcludingCashAndCashEquivalents_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" xlink:label="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" xlink:title="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities">Aanpassingen voor afname (toename) van financiële activa tegen geamortiseerde kostprijs (exclusief schuldbewijzen) om de winst (verlies) aan te sluiten met de nettokasstroom uit (gebruikt in) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_1" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_1">Financiële activa tegen geamortiseerde kostprijs, zonder schuldpapier</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_1" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_2" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_2">Financiële activa tegen geamortiseerde kostprijs, zonder schuldpapier</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_2" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtAmortisedCostExcludingDebtSecurities_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" xlink:label="AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" xlink:title="AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss">Aanpassingen voor afname (toename) van financiële activa aangehouden voor handelsdoeleinden tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening om de winst (verlies) aan te sluiten met de nettokasstroom uit (gebruikt in) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_1" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_1">Waarvan financiële activa aangehouden voor handelsdoeleinden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_1" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_2" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_2">Waarvan financiële activa aangehouden voor handelsdoeleinden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_2" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTradingAtFairValueThroughProfitOrLoss_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" xlink:label="AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" xlink:title="AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets">Aanpassingen voor afname (toename) van activa die verband houden met groepen activa die worden afgestoten, en andere activa om de winst (verlies) aan te sluiten op de nettokasstroom uit (gebruikt in) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" xlink:to="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" xlink:title="Label : AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets to label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_1" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_1">Bedrijfsactiva in verband met groepen activa die worden afgestoten en overige activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" xlink:to="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_1" xlink:title="Label : AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets to label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_2" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_2">Bedrijfsactiva in verband met groepen activa die worden afgestoten en overige activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets" xlink:to="label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_2" xlink:title="Label : AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets to label_AdjustmentsForDecreaseIncreaseInOperatingAssetsAssociatedWithDisposalGroupsAndOtherAssets_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" xlink:label="IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" xlink:title="IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" xml:lang="nl" id="label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents">De toename (afname) van de operationele verplichtingen (exclusief geldmiddelen en kasequivalenten).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" xlink:to="label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" xlink:title="Label : IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents to label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents_1" xml:lang="nl" id="label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents_1">Wijzigingen in bedrijfsverplichtingen (exclusief geldmiddelen en kasequivalenten)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" xlink:to="label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents_1" xlink:title="Label : IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents to label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents" xlink:to="label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents_2" xlink:title="Label : IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents to label_IncreaseDecreaseInOperatingLiabilitiesExcludingCashAndCashEquivalents_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost" xlink:label="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost" xlink:title="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost">Aanpassingen voor de toename (afname) van financiële verplichtingen tegen geamortiseerde kostprijs om de winst (verlies) aan te sluiten bij de nettokasstroom uit (gebruikt in) bedrijfsactiviteiten.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_1" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_1">Financiële verplichtingen tegen geamortiseerde kostprijs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost" xlink:to="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_1" xlink:title="Label : AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost to label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_2" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_2">Financiële verplichtingen tegen geamortiseerde kostprijs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost" xlink:to="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_2" xlink:title="Label : AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost to label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAmortisedCost_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:label="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:title="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss">Aanpassingen voor toename (afname) van financiële verplichtingen tegen reële waarde met verwerking van waardeveranderingen in de winst- en verliesrekening om de winst (verlies) aan te sluiten met de nettokasstroom uit (gebruikt bij) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:to="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:title="Label : AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss to label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_1" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_1">Financiële verplichtingen gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:to="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_1" xlink:title="Label : AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss to label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_2" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_2">Financiële verplichtingen gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:to="label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_2" xlink:title="Label : AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss to label_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesAtFairValueThroughProfitOrLoss_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" xlink:label="AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" xlink:title="AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance">Aanpassingen voor verhoging (verlaging) van de technische voorzieningen, vóór herverzekering om de winst (verlies) aan te sluiten met de nettokasstroom uit (gebruikt in) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" xlink:to="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" xlink:title="Label : AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance to label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_1" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_1">Technische voorzieningen vóór herverzekering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" xlink:to="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_1" xlink:title="Label : AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance to label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_2" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_2">Technische voorzieningen vóór herverzekering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance" xlink:to="label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_2" xlink:title="Label : AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance to label_AdjustmentsForIncreaseDecreaseInTechnicalProvisionsBeforeReinsurance_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" xlink:label="AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" xlink:title="AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities">Aanpassingen voor toename (afname) van operationele verplichtingen in verband met groepen activa die worden afgestoten, en andere verplichtingen om de winst (verlies) aan te sluiten met de nettokasstroom uit (gebruikt bij) operationele activiteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" xlink:to="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" xlink:title="Label : AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities to label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_1" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_1">Bedrijfsverplichtingen in verband met groepen activa die worden afgestoten en overige verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" xlink:to="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_1" xlink:title="Label : AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities to label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_2" xml:lang="nl" id="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_2">Bedrijfsverplichtingen in verband met groepen activa die worden afgestoten en overige verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities" xlink:to="label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_2" xlink:title="Label : AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities to label_AdjustmentsForIncreaseDecreaseInOperatingLiabilitiesAssociatedWithDisposalGroupsAndOtherLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" xlink:label="ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" xlink:title="ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" xml:lang="nl" id="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities">De kasinstroom (uitstroom) uit de uitgifte (aflossingen) van promessen en andere schuldbewijzen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" xlink:to="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" xlink:title="Label : ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities to label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_1" xml:lang="nl" id="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_1">Uitgifte of terugbetaling van promessen en andere schuldbewijzen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" xlink:to="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_1" xlink:title="Label : ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities to label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_1" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_2" xml:lang="nl" id="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_2">Uitgifte of terugbetaling van promessen en andere schuldbewijzen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities" xlink:to="label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_2" xlink:title="Label : ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities to label_ProceedsFromIssueRepaymentsOfPromissoryNotesAndOtherDebtSecurities_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" xlink:label="ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" xlink:title="ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" xml:lang="nl" id="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities">De kasinstroom (uitstroom) uit de uitgifte (aflossingen) van achtergestelde schulden.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" xlink:to="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" xlink:title="Label : ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities to label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_1" xml:lang="nl" id="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_1">Opbrengst van of terugbetaling van achtergestelde schulden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" xlink:to="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_1" xlink:title="Label : ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities to label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_2" xml:lang="nl" id="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_2">Opbrengst van of terugbetaling van achtergestelde schulden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities" xlink:to="label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_2" xlink:title="Label : ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities to label_ProceedsFromIssueOrRepaymentsOfSubordinatedLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" xlink:label="ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" xlink:title="ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" xml:lang="nl" id="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments">De kasinstroom (uitstroom) uit de uitgifte van (betaling voor) additionele tier-1 instrumenten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" xlink:to="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" xlink:title="Label : ProceedsFromPaymentForIssueOfAdditionalTier1Instruments to label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_1" xml:lang="nl" id="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_1">Uitgifte van additional tier 1-instrumenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" xlink:to="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_1" xlink:title="Label : ProceedsFromPaymentForIssueOfAdditionalTier1Instruments to label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_1" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_2" xml:lang="nl" id="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_2">Uitgifte van additional tier 1-instrumenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromPaymentForIssueOfAdditionalTier1Instruments" xlink:to="label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_2" xlink:title="Label : ProceedsFromPaymentForIssueOfAdditionalTier1Instruments to label_ProceedsFromPaymentForIssueOfAdditionalTier1Instruments_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" xlink:label="CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" xlink:title="CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" xml:lang="nl" id="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities">De kasuitstroom voor couponbetalingen op additionele tier-1-instrumenten die als financieringsactiviteiten worden geclassificeerd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" xlink:to="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" xlink:title="Label : CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities to label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_1" xml:lang="nl" id="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_1">Coupon op additional tier 1-instrumenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" xlink:to="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_1" xlink:title="Label : CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities to label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_1" />
    <link:label xlink:type="resource" xlink:label="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_2" xml:lang="nl" id="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_2">Coupon op additional tier 1-instrumenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities" xlink:to="label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_2" xlink:title="Label : CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities to label_CouponOnAdditionalTier1InstrumentsClassifiedAsFinancingActivities_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" xlink:label="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" xlink:title="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" />
    <link:label xlink:type="resource" xlink:label="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" xml:lang="nl" id="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations">Het bedrag van de uitgestelde belastingen op het resultaat uit de overdracht van de reserve naar het nettoresultaat met betrekking tot de afdekking van de netto-investeringen in buitenlandse activiteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" xlink:to="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" xlink:title="Label : TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations to label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" />
    <link:label xlink:type="resource" xlink:label="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_1" xml:lang="nl" id="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_1">Uitgestelde belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" xlink:to="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_1" xlink:title="Label : TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations to label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_1" />
    <link:label xlink:type="resource" xlink:label="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_2" xml:lang="nl" id="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_2">Uitgestelde belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations" xlink:to="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_2" xlink:title="Label : TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations to label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToHedgeOfNetInvestmentsInForeignOperations_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeStatementAbstract" xlink:label="IncomeStatementAbstract" xlink:title="IncomeStatementAbstract" />
    <link:label xlink:type="resource" xlink:label="label_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeStatementAbstract" xml:lang="nl" id="label_IncomeStatementAbstract">Winst (verlies) [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeStatementAbstract" xlink:to="label_IncomeStatementAbstract" xlink:title="Label : IncomeStatementAbstract to label_IncomeStatementAbstract" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_PrimaryFinancialStatementTable" xlink:label="PrimaryFinancialStatementTable" xlink:title="PrimaryFinancialStatementTable" />
    <link:label xlink:type="resource" xlink:label="label_PrimaryFinancialStatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PrimaryFinancialStatementTable" xml:lang="nl" id="label_PrimaryFinancialStatementTable">Primary Financial Statement [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrimaryFinancialStatementTable" xlink:to="label_PrimaryFinancialStatementTable" xlink:title="Label : PrimaryFinancialStatementTable to label_PrimaryFinancialStatementTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="BusinessCombinationsAxis" xlink:title="BusinessCombinationsAxis" />
    <link:label xlink:type="resource" xlink:label="label_BusinessCombinationsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessCombinationsAxis" xml:lang="nl" id="label_BusinessCombinationsAxis">Bedrijfscombinaties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessCombinationsAxis" xlink:to="label_BusinessCombinationsAxis" xlink:title="Label : BusinessCombinationsAxis to label_BusinessCombinationsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="EntitysTotalForBusinessCombinationsMember" xlink:title="EntitysTotalForBusinessCombinationsMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForBusinessCombinationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForBusinessCombinationsMember" xml:lang="nl" id="label_EntitysTotalForBusinessCombinationsMember">Totaal van de entiteit voor bedrijfscombinaties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForBusinessCombinationsMember" xlink:to="label_EntitysTotalForBusinessCombinationsMember" xlink:title="Label : EntitysTotalForBusinessCombinationsMember to label_EntitysTotalForBusinessCombinationsMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable" xlink:label="DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable" xlink:title="DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable" xml:lang="nl" id="label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable">Informatieverschaffing over de gevolgen van de overlappingsbenaderingsherclassificatie voor winst of verlies [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable" xlink:to="label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable" xlink:title="Label : DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable to label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EffectOfOverlayApproachReclassificationAxis" xlink:label="EffectOfOverlayApproachReclassificationAxis" xlink:title="EffectOfOverlayApproachReclassificationAxis" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfOverlayApproachReclassificationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EffectOfOverlayApproachReclassificationAxis" xml:lang="nl" id="label_EffectOfOverlayApproachReclassificationAxis">Gevolgen van de overlappingsbenaderingsherclassificatie [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfOverlayApproachReclassificationAxis" xlink:to="label_EffectOfOverlayApproachReclassificationAxis" xlink:title="Label : EffectOfOverlayApproachReclassificationAxis to label_EffectOfOverlayApproachReclassificationAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems" xlink:label="DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems" xlink:title="DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems" xml:lang="nl" id="label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems">Informatieverschaffing over de gevolgen van de overlappingsbenaderingsherclassificatie voor winst of verlies [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems" xlink:to="label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems" xlink:title="Label : DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems to label_DisclosureOfEffectOfOverlayApproachReclassificationOnProfitOrLossLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:label="DividendsPaidOrdinarySharesPerShare" xlink:title="DividendsPaidOrdinarySharesPerShare" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidOrdinarySharesPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaidOrdinarySharesPerShare" xml:lang="nl" id="label_DividendsPaidOrdinarySharesPerShare">Betaalde dividenden, gewone aandelen per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidOrdinarySharesPerShare" xlink:to="label_DividendsPaidOrdinarySharesPerShare" xlink:title="Label : DividendsPaidOrdinarySharesPerShare to label_DividendsPaidOrdinarySharesPerShare" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EffectOfOverlayApproachReclassificationMember" xlink:label="EffectOfOverlayApproachReclassificationMember" xlink:title="EffectOfOverlayApproachReclassificationMember" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfOverlayApproachReclassificationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EffectOfOverlayApproachReclassificationMember" xml:lang="nl" id="label_EffectOfOverlayApproachReclassificationMember">Gevolgen van de overlappingsbenaderingsherclassificatie [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfOverlayApproachReclassificationMember" xlink:to="label_EffectOfOverlayApproachReclassificationMember" xlink:title="Label : EffectOfOverlayApproachReclassificationMember to label_EffectOfOverlayApproachReclassificationMember" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfOverlayApproachReclassificationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EffectOfOverlayApproachReclassificationMember_1" xml:lang="nl" id="label_EffectOfOverlayApproachReclassificationMember_1">Impact overlay</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfOverlayApproachReclassificationMember" xlink:to="label_EffectOfOverlayApproachReclassificationMember_1" xlink:title="Label : EffectOfOverlayApproachReclassificationMember to label_EffectOfOverlayApproachReclassificationMember_1" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" xlink:label="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" xlink:title="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" />
    <link:label xlink:type="resource" xlink:label="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" xml:lang="nl" id="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges">Het bedrag van de overdracht van de reserve naar het nettoresultaat met betrekking tot latente belastingen op het resultaat met betrekking tot kasstroomafdekkingen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" xlink:to="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" xlink:title="Label : TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges to label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" />
    <link:label xlink:type="resource" xlink:label="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_1" xml:lang="nl" id="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_1">Uitgestelde belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" xlink:to="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_1" xlink:title="Label : TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges to label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_1" />
    <link:label xlink:type="resource" xlink:label="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_2" xml:lang="nl" id="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_2">Uitgestelde belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges" xlink:to="label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_2" xlink:title="Label : TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges to label_TransferFromReserveToNetResultDeferredTaxesOnIncomeRelatedToCashFlowHedges_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_TaxAssets" xlink:label="TaxAssets" xlink:title="TaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_TaxAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxAssets" xml:lang="nl" id="label_TaxAssets">Het bedrag van de belastingvorderingen bestaande uit actuele belastingvorderingen en uitgestelde belastingvorderingen. De over de verslagperiode verschuldigde en verrekenbare belasting is het bedrag van de te betalen (terug te vorderen) winstbelasting over de belastbare winst (het fiscaal verlies) van een periode. De uitgestelde belasting is het bedrag van de winstbelastingen die in toekomstige perioden kunnen worden teruggevorderd: (a) verrekenbare tijdelijke verschillen; (b) Niet-gecompenseerde fiscale verliezen en (c) ongebruikte fiscaal verrekenbare tegoeden.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAssets" xlink:to="label_TaxAssets" xlink:title="Label : TaxAssets to label_TaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_TaxAssets_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_TaxAssets_1" xml:lang="nl" id="label_TaxAssets_1">Belastingvorderingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAssets" xlink:to="label_TaxAssets_1" xlink:title="Label : TaxAssets to label_TaxAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxAssets_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxAssets_2" xml:lang="nl" id="label_TaxAssets_2">Belastingvorderingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAssets" xlink:to="label_TaxAssets_2" xlink:title="Label : TaxAssets to label_TaxAssets_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_DecreaseThroughCouponOnAdditionalTier1Instruments" xlink:label="DecreaseThroughCouponOnAdditionalTier1Instruments" xlink:title="DecreaseThroughCouponOnAdditionalTier1Instruments" />
    <link:label xlink:type="resource" xlink:label="label_DecreaseThroughCouponOnAdditionalTier1Instruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DecreaseThroughCouponOnAdditionalTier1Instruments" xml:lang="nl" id="label_DecreaseThroughCouponOnAdditionalTier1Instruments">De daling van het eigen vermogen als gevolg van de coupon op additionele tier-1 instrumenten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseThroughCouponOnAdditionalTier1Instruments" xlink:to="label_DecreaseThroughCouponOnAdditionalTier1Instruments" xlink:title="Label : DecreaseThroughCouponOnAdditionalTier1Instruments to label_DecreaseThroughCouponOnAdditionalTier1Instruments" />
    <link:label xlink:type="resource" xlink:label="label_DecreaseThroughCouponOnAdditionalTier1Instruments_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DecreaseThroughCouponOnAdditionalTier1Instruments_1" xml:lang="nl" id="label_DecreaseThroughCouponOnAdditionalTier1Instruments_1">Coupon op additional tier 1-instrumenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseThroughCouponOnAdditionalTier1Instruments" xlink:to="label_DecreaseThroughCouponOnAdditionalTier1Instruments_1" xlink:title="Label : DecreaseThroughCouponOnAdditionalTier1Instruments to label_DecreaseThroughCouponOnAdditionalTier1Instruments_1" />
    <link:label xlink:type="resource" xlink:label="label_DecreaseThroughCouponOnAdditionalTier1Instruments_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DecreaseThroughCouponOnAdditionalTier1Instruments_2" xml:lang="nl" id="label_DecreaseThroughCouponOnAdditionalTier1Instruments_2">Coupon op additional tier 1-instrumenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseThroughCouponOnAdditionalTier1Instruments" xlink:to="label_DecreaseThroughCouponOnAdditionalTier1Instruments_2" xlink:title="Label : DecreaseThroughCouponOnAdditionalTier1Instruments to label_DecreaseThroughCouponOnAdditionalTier1Instruments_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments" xlink:label="OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments" xlink:title="OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments">Gerealiseerde en niet-gerealiseerde resultaten via OCI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments" xlink:to="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments to label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments_1" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments_1">Het bedrag van de niet-gerealiseerde resultaten, vóór belastingen, in verband met de toepassing van de overlay-benadering op eigenvermogensinstrumenten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments" xlink:to="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments_1" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments to label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments_2" xml:lang="nl" id="label_OtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproachOnEquityInstruments_2">Gerealiseerde en niet-gerealiseerde resultaten via OCI</link:label>
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    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach" xml:lang="nl" id="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach">Totaal via winst-en-verliesrekening of OCI</link:label>
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    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_1" xml:lang="nl" id="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_1">Totaal via winst-en-verliesrekening of OCI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach" xlink:to="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_1" xlink:title="Label : OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach to label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_2" xml:lang="nl" id="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_2">Het nettobedrag van de niet-gerealiseerde resultaten, gerelateerd aan de reële waardeaanpassingen op eigenvermogensinstrumenten gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening of niet-gerealiseerde resultaten bij toepassing van de overlay-benadering, na aftrek van belastingen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach" xlink:to="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_2" xlink:title="Label : OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach to label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_2" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_3" xml:lang="nl" id="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach_3">Gerealiseerde en niet-gerealiseerde veranderingen in de reële waarde opgenomen in 'Nettoresultaat uit financiële instrumenten bij FVPL'.</link:label>
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:label="OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:title="OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xml:lang="nl" id="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach">Aanpassingen van de reële waarde vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:to="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:title="Label : OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach to label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1" xml:lang="nl" id="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1">Het bedrag van de niet-gerealiseerde resultaten, gerelateerd aan aanpassingen van de reële waarde van eigenvermogensinstrumenten die worden gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst- en verliesrekening of niet-gerealiseerde resultaten bij toepassing van de overlay-benadering, vóór belastingen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:to="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1" xlink:title="Label : OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach to label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_2" xml:lang="nl" id="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_2">Aanpassingen van de reële waarde vóór belastingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach" xlink:to="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_2" xlink:title="Label : OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach to label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_2" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_3" xml:lang="nl" id="label_OtherComprehensiveIncomeFairValueAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTaxApplicationOfOverlayApproach_3">Reële-waardeaanpassingen vóór belastingen</link:label>
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" xlink:label="IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" xlink:title="IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" xml:lang="nl" id="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome">Belastingen (via winst-en-verliesrekening of OCI)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" xlink:title="Label : IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome to label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_1" xml:lang="nl" id="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_1">Het bedrag van de winstbelasting met betrekking tot de bedragen die zijn opgenomen in de niet-gerealiseerde resultaten op eigenvermogensinstrumenten in verband met de toepassing van de overlay-benadering.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_1" xlink:title="Label : IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome to label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_1" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_2" xml:lang="nl" id="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_2">Belastingen (via winst-en-verliesrekening of OCI)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_2" xlink:title="Label : IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome to label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_2" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_3" xml:lang="nl" id="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_3">Belasting op wijziging van de herwaarderingsreserve (FVPL eigenvermogensinstrumenten) - overlay-benadering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome" xlink:to="label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_3" xlink:title="Label : IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome to label_IncomeTaxRelatingToApplicationOfOverlayApproachOnEquityInstrumentsInOtherComprehensiveIncome_3" />
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax" xlink:label="ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax" xlink:title="ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax" xml:lang="nl" id="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax">Reclassification Adjustments on Application of Overlay Approach on Equity Instruments Before Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax" xlink:title="Label : ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax to label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_1" xml:lang="nl" id="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_1">Het bedrag van de herclassificatieaanpassingen in verband met de toepassing van de overlay-benadering op eigenvermogensinstrumenten, vóór belasting.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_1" xlink:title="Label : ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax to label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_2" xml:lang="nl" id="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_2">Netto gerealiseerd resultaat en bijzondere waardevermindering</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_3" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_3" xml:lang="nl" id="label_ReclassificationAdjustmentsOnApplicationOfOverlayApproachOnEquityInstrumentsBeforeTax_3">Overboeking van reserve naar nettoresultaat</link:label>
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToNetGainsOrLossesOnDisposalForOverlayApproach" xlink:label="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToNetGainsOrLossesOnDisposalForOverlayApproach" xlink:title="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToNetGainsOrLossesOnDisposalForOverlayApproach" />
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToImpairmentForOverlayApproach" xlink:label="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToImpairmentForOverlayApproach" xlink:title="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToImpairmentForOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToImpairmentForOverlayApproach" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToImpairmentForOverlayApproach" xml:lang="nl" id="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToImpairmentForOverlayApproach">Het bedrag van de herclassificatieaanpassingen op eigenvermogensinstrumenten gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening in verband met de "overlay"-benadering.</link:label>
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_InAccordanceWithInternationalAccountingStandard39Member" xlink:label="InAccordanceWithInternationalAccountingStandard39Member" xlink:title="InAccordanceWithInternationalAccountingStandard39Member" />
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    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToUnrealisedResultsThroughProfitOrLossForOverlayApproach" xlink:label="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToUnrealisedResultsThroughProfitOrLossForOverlayApproach" xlink:title="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToUnrealisedResultsThroughProfitOrLossForOverlayApproach" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach" xlink:label="OtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach" xlink:title="OtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxApplicationOfOverlayApproach">Overige onderdelen van het totaalresultaat, na belastingen, toepassing van de overlappingsbenadering</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:label="OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:title="OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" />
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    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_2" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_2">Herwaarderingsreserve (FVOCI-schuldinstrumenten)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_2" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome to label_OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:label="OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:title="OtherComprehensiveIncomeNetOfTaxCashFlowHedges" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges">Overige onderdelen van het totaalresultaat, na belastingen, kasstroomafdekkingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:to="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxCashFlowHedges to label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_1" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_1">Nettowijziging van de afdekkingsreserve (kasstroomafdekkingen)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:to="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_1" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxCashFlowHedges to label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_2" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_2">Nettomutatie in de afdekkingsreserve (kasstroomafdekking)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:to="label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_2" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxCashFlowHedges to label_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:title="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">Overige onderdelen van het totaalresultaat, na belastingen, winsten (verliezen) uit hoofde van herwaarderingen van toegezegdpensioenregelingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans to label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_1" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_1">Nettowijziging van de toegezegdpensioenregelingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_1" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans to label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_2" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_2">Nettoverandering in toegezegd-pensioenregelingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_2" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans to label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:title="OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation">Overige onderdelen van het totaalresultaat, na belastingen, wisselkoersverschillen uit omrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:to="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation to label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_1" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_1">Nettowijziging van de omrekeningsverschillen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:to="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_1" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation to label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_2" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_2">Nettowijziging van de omrekeningsverschillen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:to="label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_2" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation to label_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" xlink:label="OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" xlink:title="OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations">Overige onderdelen van het totaalresultaat, na belastingen, afdekkingen van netto-investeringen in buitenlandse bedrijfsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" xlink:to="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations to label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_1" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_1">Afdekking van een netto-investering in buitenlandse entiteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" xlink:to="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_1" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations to label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_2" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_2">Afdekking van netto-investeringen in buitenlandse activiteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations" xlink:to="label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_2" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations to label_OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsPaid" xlink:label="DividendsPaid" xlink:title="DividendsPaid" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaid" xml:lang="nl" id="label_DividendsPaid">Dividenden die zijn opgenomen als uitkeringen aan eigenaars</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid" xlink:title="Label : DividendsPaid to label_DividendsPaid" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaid_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPaid_1" xml:lang="nl" id="label_DividendsPaid_1">Dividenden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid_1" xlink:title="Label : DividendsPaid to label_DividendsPaid_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaid_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsPaid_2" xml:lang="nl" id="label_DividendsPaid_2">Uitgekeerde dividenden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid_2" xlink:title="Label : DividendsPaid to label_DividendsPaid_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_FinalDividendPaidPerShare" xlink:label="FinalDividendPaidPerShare" xlink:title="FinalDividendPaidPerShare" />
    <link:label xlink:type="resource" xlink:label="label_FinalDividendPaidPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinalDividendPaidPerShare" xml:lang="nl" id="label_FinalDividendPaidPerShare">Final dividend paid, per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinalDividendPaidPerShare" xlink:to="label_FinalDividendPaidPerShare" xlink:title="Label : FinalDividendPaidPerShare to label_FinalDividendPaidPerShare" />
    <link:label xlink:type="resource" xlink:label="label_FinalDividendPaidPerShare_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinalDividendPaidPerShare_1" xml:lang="nl" id="label_FinalDividendPaidPerShare_1">Het bedrag van het uitgekeerde slotdividend per gewoon aandeel.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinalDividendPaidPerShare" xlink:to="label_FinalDividendPaidPerShare_1" xlink:title="Label : FinalDividendPaidPerShare to label_FinalDividendPaidPerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_FinalDividendPaidPerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinalDividendPaidPerShare_2" xml:lang="nl" id="label_FinalDividendPaidPerShare_2">Uitgekeerd slotdividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinalDividendPaidPerShare" xlink:to="label_FinalDividendPaidPerShare_2" xlink:title="Label : FinalDividendPaidPerShare to label_FinalDividendPaidPerShare_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_InterimDividendPaidPerShare" xlink:label="InterimDividendPaidPerShare" xlink:title="InterimDividendPaidPerShare" />
    <link:label xlink:type="resource" xlink:label="label_InterimDividendPaidPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterimDividendPaidPerShare" xml:lang="nl" id="label_InterimDividendPaidPerShare">Interim dividend paid, per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterimDividendPaidPerShare" xlink:to="label_InterimDividendPaidPerShare" xlink:title="Label : InterimDividendPaidPerShare to label_InterimDividendPaidPerShare" />
    <link:label xlink:type="resource" xlink:label="label_InterimDividendPaidPerShare_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterimDividendPaidPerShare_1" xml:lang="nl" id="label_InterimDividendPaidPerShare_1">Het bedrag van het interim-dividend dat per gewoon aandeel wordt uitgekeerd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterimDividendPaidPerShare" xlink:to="label_InterimDividendPaidPerShare_1" xlink:title="Label : InterimDividendPaidPerShare to label_InterimDividendPaidPerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_InterimDividendPaidPerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterimDividendPaidPerShare_2" xml:lang="nl" id="label_InterimDividendPaidPerShare_2">Uitgekeerd interim-dividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterimDividendPaidPerShare" xlink:to="label_InterimDividendPaidPerShare_2" xlink:title="Label : InterimDividendPaidPerShare to label_InterimDividendPaidPerShare_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare" xlink:label="DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare" xlink:title="DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare" />
    <link:label xlink:type="resource" xlink:label="label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare" xml:lang="nl" id="label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare">Dividenden die vóór de datum waarop de jaarrekening werd goedgekeurd voor publicatie zijn voorgesteld of gedeclareerd, maar die nog niet als uitkering aan eigenaars per aandeel zijn verwerkt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare" xlink:to="label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare" xlink:title="Label : DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare to label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare" />
    <link:label xlink:type="resource" xlink:label="label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare_1" xml:lang="nl" id="label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare_1">Voorgesteld slotdividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare" xlink:to="label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare_1" xlink:title="Label : DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare to label_DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare_1" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:label="RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:title="RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" xml:lang="nl" id="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations">Repayments of Borrowings Under Targeted Longer Term Refinancing Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:to="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:title="Label : RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations to label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_1" xml:lang="nl" id="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_1">De kasuitstroom voor de terugbetaling van de leningen in het kader van Gerichte herfinancieringstransacties op langere termijn II (TLTRO II), geclassificeerd als operationele activiteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:to="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_1" xlink:title="Label : RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations to label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_1" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_2" xml:lang="nl" id="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_2">Terugbetaling van het geleende bedrag onder TLTRO II</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:to="label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_2" xlink:title="Label : RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations to label_RepaymentsOfBorrowingsUnderTargetedLongerTermRefinancingOperations_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_BorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:label="BorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:title="BorrowingsUnderTargetedLongerTermRefinancingOperations" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsUnderTargetedLongerTermRefinancingOperations" xml:lang="nl" id="label_BorrowingsUnderTargetedLongerTermRefinancingOperations">Borrowings Under Targeted Longer Term Refinancing Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:to="label_BorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:title="Label : BorrowingsUnderTargetedLongerTermRefinancingOperations to label_BorrowingsUnderTargetedLongerTermRefinancingOperations" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsUnderTargetedLongerTermRefinancingOperations_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_BorrowingsUnderTargetedLongerTermRefinancingOperations_1" xml:lang="nl" id="label_BorrowingsUnderTargetedLongerTermRefinancingOperations_1">Lenen onder TLTRO III</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:to="label_BorrowingsUnderTargetedLongerTermRefinancingOperations_1" xlink:title="Label : BorrowingsUnderTargetedLongerTermRefinancingOperations to label_BorrowingsUnderTargetedLongerTermRefinancingOperations_1" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsUnderTargetedLongerTermRefinancingOperations_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsUnderTargetedLongerTermRefinancingOperations_2" xml:lang="nl" id="label_BorrowingsUnderTargetedLongerTermRefinancingOperations_2">De kasinstroom uit de leningen in het kader van Gerichte herfinancieringstransacties op langere termijn III (TLTRO III), geclassificeerd als operationele activiteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsUnderTargetedLongerTermRefinancingOperations" xlink:to="label_BorrowingsUnderTargetedLongerTermRefinancingOperations_2" xlink:title="Label : BorrowingsUnderTargetedLongerTermRefinancingOperations to label_BorrowingsUnderTargetedLongerTermRefinancingOperations_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashTransferred" xlink:label="CashTransferred" xlink:title="CashTransferred" />
    <link:label xlink:type="resource" xlink:label="label_CashTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashTransferred" xml:lang="nl" id="label_CashTransferred">Overgedragen geldmiddelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashTransferred" xlink:to="label_CashTransferred" xlink:title="Label : CashTransferred to label_CashTransferred" />
    <link:label xlink:type="resource" xlink:label="label_CashTransferred_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashTransferred_1" xml:lang="nl" id="label_CashTransferred_1">Overnameprijs gecompenseerd door de beschikbare geldmiddelen en kasequivalenten van de overgenomen partij</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashTransferred" xlink:to="label_CashTransferred_1" xlink:title="Label : CashTransferred to label_CashTransferred_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="DividendsPaidClassifiedAsFinancingActivities" xlink:title="DividendsPaidClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaidClassifiedAsFinancingActivities" xml:lang="nl" id="label_DividendsPaidClassifiedAsFinancingActivities">Betaalde dividenden, geclassificeerd als financieringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidClassifiedAsFinancingActivities" xlink:title="Label : DividendsPaidClassifiedAsFinancingActivities to label_DividendsPaidClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPaidClassifiedAsFinancingActivities_1" xml:lang="nl" id="label_DividendsPaidClassifiedAsFinancingActivities_1">Uitgekeerde dividenden</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidClassifiedAsFinancingActivities_1" xlink:title="Label : DividendsPaidClassifiedAsFinancingActivities to label_DividendsPaidClassifiedAsFinancingActivities_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidClassifiedAsFinancingActivities_2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_DividendsPaidClassifiedAsFinancingActivities_2" xml:lang="nl" id="label_DividendsPaidClassifiedAsFinancingActivities_2">Dividenduitkering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidClassifiedAsFinancingActivities_2" xlink:title="Label : DividendsPaidClassifiedAsFinancingActivities to label_DividendsPaidClassifiedAsFinancingActivities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:label="ProceedsFromIssueOfBondsNotesAndDebentures" xlink:title="ProceedsFromIssueOfBondsNotesAndDebentures" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssueOfBondsNotesAndDebentures" xml:lang="nl" id="label_ProceedsFromIssueOfBondsNotesAndDebentures">Opbrengsten uit de uitgifte van obligaties, notes en schuldpapier</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="label_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:title="Label : ProceedsFromIssueOfBondsNotesAndDebentures to label_ProceedsFromIssueOfBondsNotesAndDebentures" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueOfBondsNotesAndDebentures_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssueOfBondsNotesAndDebentures_1" xml:lang="nl" id="label_ProceedsFromIssueOfBondsNotesAndDebentures_1">Uitgifte van promessen en andere schuldbewijzen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="label_ProceedsFromIssueOfBondsNotesAndDebentures_1" xlink:title="Label : ProceedsFromIssueOfBondsNotesAndDebentures to label_ProceedsFromIssueOfBondsNotesAndDebentures_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:label="RepaymentsOfBondsNotesAndDebentures" xlink:title="RepaymentsOfBondsNotesAndDebentures" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBondsNotesAndDebentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentsOfBondsNotesAndDebentures" xml:lang="nl" id="label_RepaymentsOfBondsNotesAndDebentures">Terugbetalingen van obligaties, notes en schuldpapier</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBondsNotesAndDebentures" xlink:to="label_RepaymentsOfBondsNotesAndDebentures" xlink:title="Label : RepaymentsOfBondsNotesAndDebentures to label_RepaymentsOfBondsNotesAndDebentures" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBondsNotesAndDebentures_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepaymentsOfBondsNotesAndDebentures_1" xml:lang="nl" id="label_RepaymentsOfBondsNotesAndDebentures_1">Terugbetaling van promessen en andere schuldbewijzen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBondsNotesAndDebentures" xlink:to="label_RepaymentsOfBondsNotesAndDebentures_1" xlink:title="Label : RepaymentsOfBondsNotesAndDebentures to label_RepaymentsOfBondsNotesAndDebentures_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InterestExpense" xlink:label="InterestExpense" xlink:title="InterestExpense" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestExpense" xml:lang="nl" id="label_InterestExpense">Rentelasten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpense" xlink:to="label_InterestExpense" xlink:title="Label : InterestExpense to label_InterestExpense" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InterestExpense_1" xml:lang="nl" id="label_InterestExpense_1">Betaalde rente</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpense" xlink:to="label_InterestExpense_1" xlink:title="Label : InterestExpense to label_InterestExpense_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpense_2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_InterestExpense_2" xml:lang="nl" id="label_InterestExpense_2">Rentelasten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpense" xlink:to="label_InterestExpense_2" xlink:title="Label : InterestExpense to label_InterestExpense_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:label="AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:title="AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xml:lang="nl" id="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities">Geaccumuleerde reëlewaardeafdekkingsaanpassing van de afgedekte post die is vervat in de boekwaarde, verplichtingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:to="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:title="Label : AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities to label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities_1" xml:lang="nl" id="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities_1">Winst/verlies op posities in portefeuilles afgedekt tegen renterisico</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:to="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities_1" xlink:title="Label : AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities to label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" xlink:label="ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" xlink:title="ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" xml:lang="nl" id="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember">Dit lid staat voor een component van het eigen vermogen die de geaccumuleerde winsten en verliezen op de herwaardering van schuldinstrumenten tegen reële waarde gewaardeerd via OCI vertegenwoordigt.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" xlink:to="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" xlink:title="Label : ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember to label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_1" xml:lang="nl" id="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_1">Her-waar-derings-reserve FVOCI schuld-instru-menten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" xlink:to="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_1" xlink:title="Label : ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember to label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_2" xml:lang="nl" id="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_2">Herwaarderingsreserve FVOCI schuldinstrumenten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember" xlink:to="label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_2" xlink:title="Label : ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember to label_ReserveOfGainsAndLossesOnRemeasuringDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfOverlayApproachMember" xlink:label="ReserveOfOverlayApproachMember" xlink:title="ReserveOfOverlayApproachMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfOverlayApproachMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReserveOfOverlayApproachMember" xml:lang="nl" id="label_ReserveOfOverlayApproachMember">Reserve voor de overlappingsbenadering [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfOverlayApproachMember" xlink:to="label_ReserveOfOverlayApproachMember" xlink:title="Label : ReserveOfOverlayApproachMember to label_ReserveOfOverlayApproachMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfOverlayApproachMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReserveOfOverlayApproachMember_1" xml:lang="nl" id="label_ReserveOfOverlayApproachMember_1">Herwaarderingsreserve FVPL aandelen– overlay</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfOverlayApproachMember" xlink:to="label_ReserveOfOverlayApproachMember_1" xlink:title="Label : ReserveOfOverlayApproachMember to label_ReserveOfOverlayApproachMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember" xlink:label="ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember" xlink:title="ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember" xml:lang="nl" id="label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember">Reserve voor winsten en verliezen uit hoofde van beleggingen in eigenvermogensinstrumenten [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember" xlink:to="label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember" xlink:title="Label : ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember to label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember_1" xml:lang="nl" id="label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember_1">Herwaarderingsreserve FVOCI aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember" xlink:to="label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember_1" xlink:title="Label : ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember to label_ReserveOfGainsAndLossesFromInvestmentsInEquityInstrumentsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfCashFlowHedgesMember" xlink:label="ReserveOfCashFlowHedgesMember" xlink:title="ReserveOfCashFlowHedgesMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfCashFlowHedgesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReserveOfCashFlowHedgesMember" xml:lang="nl" id="label_ReserveOfCashFlowHedgesMember">Reserve voor kasstroomafdekkingen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfCashFlowHedgesMember" xlink:to="label_ReserveOfCashFlowHedgesMember" xlink:title="Label : ReserveOfCashFlowHedgesMember to label_ReserveOfCashFlowHedgesMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfCashFlowHedgesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReserveOfCashFlowHedgesMember_1" xml:lang="nl" id="label_ReserveOfCashFlowHedgesMember_1">Afdekkingsreserve kasstroomafdekkingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfCashFlowHedgesMember" xlink:to="label_ReserveOfCashFlowHedgesMember_1" xlink:title="Label : ReserveOfCashFlowHedgesMember to label_ReserveOfCashFlowHedgesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:label="ReserveOfExchangeDifferencesOnTranslationMember" xlink:title="ReserveOfExchangeDifferencesOnTranslationMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfExchangeDifferencesOnTranslationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReserveOfExchangeDifferencesOnTranslationMember" xml:lang="nl" id="label_ReserveOfExchangeDifferencesOnTranslationMember">Reserve voor wisselkoersverschillen uit omrekening [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfExchangeDifferencesOnTranslationMember" xlink:to="label_ReserveOfExchangeDifferencesOnTranslationMember" xlink:title="Label : ReserveOfExchangeDifferencesOnTranslationMember to label_ReserveOfExchangeDifferencesOnTranslationMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfExchangeDifferencesOnTranslationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReserveOfExchangeDifferencesOnTranslationMember_1" xml:lang="nl" id="label_ReserveOfExchangeDifferencesOnTranslationMember_1">Omrekeningsverschillen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfExchangeDifferencesOnTranslationMember" xlink:to="label_ReserveOfExchangeDifferencesOnTranslationMember_1" xlink:title="Label : ReserveOfExchangeDifferencesOnTranslationMember to label_ReserveOfExchangeDifferencesOnTranslationMember_1" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" xlink:label="ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" xlink:title="ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" xml:lang="nl" id="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember">Dit lid staat voor een onderdeel van het eigen vermogen dat de afdekkingen van de netto-investeringen in buitenlandse activiteiten vertegenwoordigt.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" xlink:to="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" xlink:title="Label : ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember to label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_1" xml:lang="nl" id="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_1">Afdek-king van een netto-investe-ring in een buiten-landse entiteit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" xlink:to="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_1" xlink:title="Label : ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember to label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_2" xml:lang="nl" id="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_2">Afdekking van een netto-investering in een buitenlandse entiteit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember" xlink:to="label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_2" xlink:title="Label : ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember to label_ReserveOfHedgeOfNetInvestmentsInForeignOperationsMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:label="ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:title="ReserveOfRemeasurementsOfDefinedBenefitPlansMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xml:lang="nl" id="label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember">Reserve voor herwaarderingen van toegezegdpensioenregelingen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:to="label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:title="Label : ReserveOfRemeasurementsOfDefinedBenefitPlansMember to label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember_1" xml:lang="nl" id="label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember_1">Wijziging in toegezegdpensioenregelingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:to="label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember_1" xlink:title="Label : ReserveOfRemeasurementsOfDefinedBenefitPlansMember to label_ReserveOfRemeasurementsOfDefinedBenefitPlansMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember" xlink:label="ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember" xlink:title="ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember" xml:lang="nl" id="label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember">Reserve voor de verandering in de reële waarde van financiële verplichtingen, toe te rekenen aan de verandering in het aan de verplichtingen verbonden kredietrisico</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember" xlink:to="label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember" xlink:title="Label : ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember to label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember" />
    <link:label xlink:type="resource" xlink:label="label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember_1" xml:lang="nl" id="label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember_1">Eigen kredietrisico via eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember" xlink:to="label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember_1" xlink:title="Label : ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember to label_ReserveOfChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiabilityMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RevaluationSurplusMember" xlink:label="RevaluationSurplusMember" xlink:title="RevaluationSurplusMember" />
    <link:label xlink:type="resource" xlink:label="label_RevaluationSurplusMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevaluationSurplusMember" xml:lang="nl" id="label_RevaluationSurplusMember">Herwaarderingsreserves [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevaluationSurplusMember" xlink:to="label_RevaluationSurplusMember" xlink:title="Label : RevaluationSurplusMember to label_RevaluationSurplusMember" />
    <link:label xlink:type="resource" xlink:label="label_RevaluationSurplusMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevaluationSurplusMember_1" xml:lang="nl" id="label_RevaluationSurplusMember_1">Totaal her-waar-derings-reserves</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevaluationSurplusMember" xlink:to="label_RevaluationSurplusMember_1" xlink:title="Label : RevaluationSurplusMember to label_RevaluationSurplusMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RevaluationSurplusMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RevaluationSurplusMember_2" xml:lang="nl" id="label_RevaluationSurplusMember_2">Totaal herwaarderingsreserves</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevaluationSurplusMember" xlink:to="label_RevaluationSurplusMember_2" xlink:title="Label : RevaluationSurplusMember to label_RevaluationSurplusMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity" />
    <link:label xlink:type="resource" xlink:label="label_Equity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Equity" xml:lang="nl" id="label_Equity">Eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity" xlink:title="Label : Equity to label_Equity" />
    <link:label xlink:type="resource" xlink:label="label_Equity_1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_Equity_1" xml:lang="nl" id="label_Equity_1">Saldo</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_1" xlink:title="Label : Equity to label_Equity_1" />
    <link:label xlink:type="resource" xlink:label="label_Equity_2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_Equity_2" xml:lang="nl" id="label_Equity_2">Saldo</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_2" xlink:title="Label : Equity to label_Equity_2" />
    <link:label xlink:type="resource" xlink:label="label_Equity_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Equity_3" xml:lang="nl" id="label_Equity_3">Totaal eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_3" xlink:title="Label : Equity to label_Equity_3" />
    <link:label xlink:type="resource" xlink:label="label_Equity_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Equity_4" xml:lang="nl" id="label_Equity_4">Eigen vermogen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_4" xlink:title="Label : Equity to label_Equity_4" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeFromContractsWithReinsurers" xlink:label="IncomeFromContractsWithReinsurers" xlink:title="IncomeFromContractsWithReinsurers" />
    <link:label xlink:type="resource" xlink:label="label_IncomeFromContractsWithReinsurers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeFromContractsWithReinsurers" xml:lang="nl" id="label_IncomeFromContractsWithReinsurers">Baten uit hoofde van contracten met herverzekeraars</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeFromContractsWithReinsurers" xlink:to="label_IncomeFromContractsWithReinsurers" xlink:title="Label : IncomeFromContractsWithReinsurers to label_IncomeFromContractsWithReinsurers" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ExpensesArisingFromReinsuranceHeld" xlink:label="ExpensesArisingFromReinsuranceHeld" xlink:title="ExpensesArisingFromReinsuranceHeld" />
    <link:label xlink:type="resource" xlink:label="label_ExpensesArisingFromReinsuranceHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpensesArisingFromReinsuranceHeld" xml:lang="nl" id="label_ExpensesArisingFromReinsuranceHeld">Lasten die voortvloeien uit aangehouden herverzekering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpensesArisingFromReinsuranceHeld" xlink:to="label_ExpensesArisingFromReinsuranceHeld" xlink:title="Label : ExpensesArisingFromReinsuranceHeld to label_ExpensesArisingFromReinsuranceHeld" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherEquityInterest" xlink:label="OtherEquityInterest" xlink:title="OtherEquityInterest" />
    <link:label xlink:type="resource" xlink:label="label_OtherEquityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherEquityInterest" xml:lang="nl" id="label_OtherEquityInterest">Ander aandelenbelang</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherEquityInterest" xlink:to="label_OtherEquityInterest" xlink:title="Label : OtherEquityInterest to label_OtherEquityInterest" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:label="OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:title="OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xml:lang="nl" id="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities">Andere instromen (uitstromen) van geldmiddelen, geclassificeerd als financieringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:to="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:title="Label : OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities to label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_InAccordanceWithIFRS9WithoutOverlayMember" xlink:label="InAccordanceWithIFRS9WithoutOverlayMember" xlink:title="InAccordanceWithIFRS9WithoutOverlayMember" />
    <link:label xlink:type="resource" xlink:label="label_InAccordanceWithIFRS9WithoutOverlayMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InAccordanceWithIFRS9WithoutOverlayMember" xml:lang="nl" id="label_InAccordanceWithIFRS9WithoutOverlayMember">In Accordance With IFRS 9 Without Overlay [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InAccordanceWithIFRS9WithoutOverlayMember" xlink:to="label_InAccordanceWithIFRS9WithoutOverlayMember" xlink:title="Label : InAccordanceWithIFRS9WithoutOverlayMember to label_InAccordanceWithIFRS9WithoutOverlayMember" />
    <link:label xlink:type="resource" xlink:label="label_InAccordanceWithIFRS9WithoutOverlayMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InAccordanceWithIFRS9WithoutOverlayMember_1" xml:lang="nl" id="label_InAccordanceWithIFRS9WithoutOverlayMember_1">Onder IFRS 9  zonder over- lay (keuze  FVPL)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InAccordanceWithIFRS9WithoutOverlayMember" xlink:to="label_InAccordanceWithIFRS9WithoutOverlayMember_1" xlink:title="Label : InAccordanceWithIFRS9WithoutOverlayMember to label_InAccordanceWithIFRS9WithoutOverlayMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InAccordanceWithIFRS9WithoutOverlayMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InAccordanceWithIFRS9WithoutOverlayMember_2" xml:lang="nl" id="label_InAccordanceWithIFRS9WithoutOverlayMember_2">Dit lid staat voor de informatie die wordt gerapporteerd in overeenstemming met IFRS 9 zonder overlay (FVPL-optie).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InAccordanceWithIFRS9WithoutOverlayMember" xlink:to="label_InAccordanceWithIFRS9WithoutOverlayMember_2" xlink:title="Label : InAccordanceWithIFRS9WithoutOverlayMember to label_InAccordanceWithIFRS9WithoutOverlayMember_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:label="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:title="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome">Aanpassingen voor afname (toename) van financiële activa tegen reële waarde met behulp van niet-gerealiseerde resultaten om de winst (verlies) aan te sluiten met de nettokasstroom uit (gebruikt bij) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1">Financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in OCI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_2" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_2">Financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in OCI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_2" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughOtherComprehensiveIncome_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdditionalGrossDividendPerShare" xlink:label="AdditionalGrossDividendPerShare" xlink:title="AdditionalGrossDividendPerShare" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalGrossDividendPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalGrossDividendPerShare" xml:lang="nl" id="label_AdditionalGrossDividendPerShare">Extra brutodividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalGrossDividendPerShare" xlink:to="label_AdditionalGrossDividendPerShare" xlink:title="Label : AdditionalGrossDividendPerShare to label_AdditionalGrossDividendPerShare" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalGrossDividendPerShare_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdditionalGrossDividendPerShare_1" xml:lang="nl" id="label_AdditionalGrossDividendPerShare_1">The amount of additional gross dividend to be distributed per ordinary share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalGrossDividendPerShare" xlink:to="label_AdditionalGrossDividendPerShare_1" xlink:title="Label : AdditionalGrossDividendPerShare to label_AdditionalGrossDividendPerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalGrossDividendPerShare_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalGrossDividendPerShare_2" xml:lang="nl" id="label_AdditionalGrossDividendPerShare_2">Additional Gross Dividend Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalGrossDividendPerShare" xlink:to="label_AdditionalGrossDividendPerShare_2" xlink:title="Label : AdditionalGrossDividendPerShare to label_AdditionalGrossDividendPerShare_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xml:lang="nl" id="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">Bijzonderewaardeverminderingsverlies (terugneming van bijzonderewaardeverminderingsverlies) opgenomen in winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="Label : ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1" xml:lang="nl" id="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1">Bijzondere waardeverminderingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1" xlink:title="Label : ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:label="ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:title="ImpairmentLossRecognisedInProfitOrLossGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImpairmentLossRecognisedInProfitOrLossGoodwill" xml:lang="nl" id="label_ImpairmentLossRecognisedInProfitOrLossGoodwill">Bijzonderewaardeverminderingsverlies opgenomen in winst of verlies, goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="label_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:title="Label : ImpairmentLossRecognisedInProfitOrLossGoodwill to label_ImpairmentLossRecognisedInProfitOrLossGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentLossRecognisedInProfitOrLossGoodwill_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ImpairmentLossRecognisedInProfitOrLossGoodwill_1" xml:lang="nl" id="label_ImpairmentLossRecognisedInProfitOrLossGoodwill_1">Bijzondere waardeverminderingen op goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="label_ImpairmentLossRecognisedInProfitOrLossGoodwill_1" xlink:title="Label : ImpairmentLossRecognisedInProfitOrLossGoodwill to label_ImpairmentLossRecognisedInProfitOrLossGoodwill_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:label="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:title="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation">Overige onderdelen van het totaalresultaat, na belastingen, winsten (verliezen) bij herwaardering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:to="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation to label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_1" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_1">Nettowijziging van de herwaarderingsreserve FVOCI aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:to="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_1" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation to label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_2" xml:lang="nl" id="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_2">Nettowijziging van de herwaarderingsreserve FVOCI aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:to="label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_2" xlink:title="Label : OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation to label_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsPerShareAbstract" xml:lang="nl" id="label_EarningsPerShareAbstract">Winst per aandeel [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="label_EarningsPerShareAbstract" xlink:title="Label : EarningsPerShareAbstract to label_EarningsPerShareAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EarningsPerShareAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsPerShareAbstract_1" xml:lang="nl" id="label_EarningsPerShareAbstract_1">Winst per aandeel (in euro)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="label_EarningsPerShareAbstract_1" xlink:title="Label : EarningsPerShareAbstract to label_EarningsPerShareAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets" xlink:label="AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets" xlink:title="AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets" xml:lang="nl" id="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets">Geaccumuleerde reëlewaardeafdekkingsaanpassing van de afgedekte post die is vervat in de boekwaarde, activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets" xlink:to="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets" xlink:title="Label : AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets to label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets_1" xml:lang="nl" id="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets_1">Winst/verlies op posities in portefeuilles afgedekt tegen renterisico</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets" xlink:to="label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets_1" xlink:title="Label : AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets to label_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountAssets_1" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_PurchaseSaleOfTreasuryShares" xlink:label="PurchaseSaleOfTreasuryShares" xlink:title="PurchaseSaleOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseSaleOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PurchaseSaleOfTreasuryShares" xml:lang="nl" id="label_PurchaseSaleOfTreasuryShares">De toename (afname) van het eigen vermogen als gevolg van de inkoop (verkoop of uitgifte) van eigen aandelen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseSaleOfTreasuryShares" xlink:to="label_PurchaseSaleOfTreasuryShares" xlink:title="Label : PurchaseSaleOfTreasuryShares to label_PurchaseSaleOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseSaleOfTreasuryShares_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseSaleOfTreasuryShares_1" xml:lang="nl" id="label_PurchaseSaleOfTreasuryShares_1">Inkoop/verkoop van eigen aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseSaleOfTreasuryShares" xlink:to="label_PurchaseSaleOfTreasuryShares_1" xlink:title="Label : PurchaseSaleOfTreasuryShares to label_PurchaseSaleOfTreasuryShares_1" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseSaleOfTreasuryShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PurchaseSaleOfTreasuryShares_2" xml:lang="nl" id="label_PurchaseSaleOfTreasuryShares_2">Aankoop/verkoop van eigen aandelen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseSaleOfTreasuryShares" xlink:to="label_PurchaseSaleOfTreasuryShares_2" xlink:title="Label : PurchaseSaleOfTreasuryShares to label_PurchaseSaleOfTreasuryShares_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xml:lang="nl" id="label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">Aanpassingen voor afschrijvingskosten en bijzonder waardeverminderingsverlies (terugneming van bijzonder waardeverminderingsverlies) opgenomen in winst of verlies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="Label : AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1" xml:lang="nl" id="label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1">bijzondere waardeverminderingen en afschrijvingen van materiële en immateriële activa, vastgoedbeleggingen en effecten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1" xlink:title="Label : AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss to label_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_1" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" xlink:label="AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" xlink:title="AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" xml:lang="nl" id="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions">Aanpassingen voor wijziging in het aandeel van herverzekeraars in de technische voorzieningen om de winst (verlies) aan te sluiten met de nettokasstroom uit (gebruikt bij) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" xlink:to="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" xlink:title="Label : AdjustmentsForChangeInReinsurersShareInTechnicalProvisions to label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_1" xml:lang="nl" id="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_1">wijziging in deel van de herverzekeraar in technische voorzieningen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" xlink:to="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_1" xlink:title="Label : AdjustmentsForChangeInReinsurersShareInTechnicalProvisions to label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_2" xml:lang="nl" id="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_2">wijziging in het deel van de herverzekeraar in technische voorzieningen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForChangeInReinsurersShareInTechnicalProvisions" xlink:to="label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_2" xlink:title="Label : AdjustmentsForChangeInReinsurersShareInTechnicalProvisions to label_AdjustmentsForChangeInReinsurersShareInTechnicalProvisions_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:label="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:title="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss">Financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst-en- verliesrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_1" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_1">Financiële activa gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst-enverliesrekening</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_1" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_2" xml:lang="nl" id="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_2">Aanpassingen voor afname (toename) van financiële activa tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening om de winst (verlies) aan te sluiten met de nettokasstroom uit (gebruikt in) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_2" xlink:title="Label : AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss to label_AdjustmentsForDecreaseIncreaseInFinancialAssetsAtFairValueThroughProfitOrLoss_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:title="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xml:lang="nl" id="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">Kasstromen die voortvloeien uit het verliezen van zeggenschap over andere bedrijven, geclassificeerd als investeringsactiviteiten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:title="Label : CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities to label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_1" xml:lang="nl" id="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_1">Opbrengst van de afstoting van een dochteronderneming of bedrijfsonderdeel zonder de afgestoten geldmiddelen (inclusief dalingen in participatiepercentages)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_1" xlink:title="Label : CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities to label_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" xlink:label="CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" xlink:title="CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" />
    <link:label xlink:type="resource" xlink:label="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" xml:lang="nl" id="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions">Het bedrag aan liquide middelen, kassaldi bij centrale banken en andere direct opvraagbare deposito's bij kredietinstellingen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" xlink:to="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" xlink:title="Label : CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions to label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" />
    <link:label xlink:type="resource" xlink:label="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_1" xml:lang="nl" id="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_1">Geldmiddelen, tegoeden bij centrale banken en andere zichtdeposito’s bij kredietinstellingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" xlink:to="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_1" xlink:title="Label : CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions to label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_1" />
    <link:label xlink:type="resource" xlink:label="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_2" xml:lang="nl" id="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_2">Geldmiddelen en tegoeden bij centrale banken en andere zichtdeposito’s bij kredietinstellingen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions" xlink:to="label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_2" xlink:title="Label : CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions to label_CashCashBalancesWithCentralBanksAndOtherDemandDepositsWithCreditInstitutions_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_OrdinaryDividendPerShare" xlink:label="OrdinaryDividendPerShare" xlink:title="OrdinaryDividendPerShare" />
    <link:label xlink:type="resource" xlink:label="label_OrdinaryDividendPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OrdinaryDividendPerShare" xml:lang="nl" id="label_OrdinaryDividendPerShare">Gewoon dividend voor het boekjaar</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinaryDividendPerShare" xlink:to="label_OrdinaryDividendPerShare" xlink:title="Label : OrdinaryDividendPerShare to label_OrdinaryDividendPerShare" />
    <link:label xlink:type="resource" xlink:label="label_OrdinaryDividendPerShare_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OrdinaryDividendPerShare_1" xml:lang="nl" id="label_OrdinaryDividendPerShare_1">Het bedrag van het gewone dividend per gewoon aandeel.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinaryDividendPerShare" xlink:to="label_OrdinaryDividendPerShare_1" xlink:title="Label : OrdinaryDividendPerShare to label_OrdinaryDividendPerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_OrdinaryDividendPerShare_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OrdinaryDividendPerShare_2" xml:lang="nl" id="label_OrdinaryDividendPerShare_2">Gewoon dividend voor het boekjaar</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinaryDividendPerShare" xlink:to="label_OrdinaryDividendPerShare_2" xlink:title="Label : OrdinaryDividendPerShare to label_OrdinaryDividendPerShare_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ExtraordinaryDividendPayablePerShare" xlink:label="ExtraordinaryDividendPayablePerShare" xlink:title="ExtraordinaryDividendPayablePerShare" />
    <link:label xlink:type="resource" xlink:label="label_ExtraordinaryDividendPayablePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExtraordinaryDividendPayablePerShare" xml:lang="nl" id="label_ExtraordinaryDividendPayablePerShare">Uit te keren buitengewoon dividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtraordinaryDividendPayablePerShare" xlink:to="label_ExtraordinaryDividendPayablePerShare" xlink:title="Label : ExtraordinaryDividendPayablePerShare to label_ExtraordinaryDividendPayablePerShare" />
    <link:label xlink:type="resource" xlink:label="label_ExtraordinaryDividendPayablePerShare_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExtraordinaryDividendPayablePerShare_1" xml:lang="nl" id="label_ExtraordinaryDividendPayablePerShare_1">Het buitengewoon dividend per gewoon aandeel.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtraordinaryDividendPayablePerShare" xlink:to="label_ExtraordinaryDividendPayablePerShare_1" xlink:title="Label : ExtraordinaryDividendPayablePerShare to label_ExtraordinaryDividendPayablePerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_ExtraordinaryDividendPayablePerShare_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExtraordinaryDividendPayablePerShare_2" xml:lang="nl" id="label_ExtraordinaryDividendPayablePerShare_2">Uit te keren buitengewoon dividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtraordinaryDividendPayablePerShare" xlink:to="label_ExtraordinaryDividendPayablePerShare_2" xlink:title="Label : ExtraordinaryDividendPayablePerShare to label_ExtraordinaryDividendPayablePerShare_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_DividendPayablePerShare" xlink:label="DividendPayablePerShare" xlink:title="DividendPayablePerShare" />
    <link:label xlink:type="resource" xlink:label="label_DividendPayablePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendPayablePerShare" xml:lang="nl" id="label_DividendPayablePerShare">Uit te keren dividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayablePerShare" xlink:to="label_DividendPayablePerShare" xlink:title="Label : DividendPayablePerShare to label_DividendPayablePerShare" />
    <link:label xlink:type="resource" xlink:label="label_DividendPayablePerShare_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendPayablePerShare_1" xml:lang="nl" id="label_DividendPayablePerShare_1">Het bedrag van het gewone dividend betaalbaar per gewoon aandeel.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayablePerShare" xlink:to="label_DividendPayablePerShare_1" xlink:title="Label : DividendPayablePerShare to label_DividendPayablePerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendPayablePerShare_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendPayablePerShare_2" xml:lang="nl" id="label_DividendPayablePerShare_2">Uit te keren dividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayablePerShare" xlink:to="label_DividendPayablePerShare_2" xlink:title="Label : DividendPayablePerShare to label_DividendPayablePerShare_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" xlink:label="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" xlink:title="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" xml:lang="nl" id="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax">Gerealiseerde en niet-gerealiseerde veranderingen in de reële waarde opgenomen in "Nettoresultaat uit financiële instrumenten tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening"</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" xlink:title="Label : ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax to label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_1" xml:lang="nl" id="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_1">Het bedrag van de herclassificatieaanpassingen van eigen-vermogensinstrumenten gewaardeerd tegen reële waarde met verwerking van waardeveranderingen in de winst- en verliesrekening met betrekking tot gerealiseerde en niet-gerealiseerde resultaten voor de overlaybenadering, vóór belastingen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_1" xlink:title="Label : ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax to label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_2" xml:lang="nl" id="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_2">Gerealiseerde en niet-gerealiseerde veranderingen in de reële waarde opgenomen in "Nettoresultaat uit financiële instrumenten tegen reële waarde met verwerking van waardeveranderingen in de winst-en-verliesrekening"</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax" xlink:to="label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_2" xlink:title="Label : ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax to label_ReclassificationAdjustmentsOnEquityInstrumentsMeasuredAtFairValueThroughProfitOrLossRelatedToRealisedAndUnrealisedChangesForOverlayApproachBeforeTax_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" xlink:label="AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" xlink:title="AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" xml:lang="nl" id="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities">Overname van een dochteronderneming of een bedrijfsonderdeel zonder de overgenomen geldmiddelen (inclusief stijgingen in participatiepercentages)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" xlink:to="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" xlink:title="Label : AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities to label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_1" xml:lang="nl" id="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_1">De totale instroom (uitstroom) van kasmiddelen voortvloeiend uit het verlies (verkrijgen) van zeggenschap over dochterondernemingen of andere bedrijven, ingedeeld als investeringsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" xlink:to="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_1" xlink:title="Label : AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities to label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_1" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_2" xml:lang="nl" id="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_2">Overname van een dochteronderneming of een bedrijfsonderdeel zonder de overgenomen geldmiddelen (inclusief stijgingen in participatiepercentages)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities" xlink:to="label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_2" xlink:title="Label : AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities to label_AcquisitionOfSubsidiaryOrBusinessUnitNetOfCashAcquiredClassifiedAsInvestingActivities_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_GrossDividendPerShare" xlink:label="GrossDividendPerShare" xlink:title="GrossDividendPerShare" />
    <link:label xlink:type="resource" xlink:label="label_GrossDividendPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GrossDividendPerShare" xml:lang="nl" id="label_GrossDividendPerShare">Voorgesteld slotdividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossDividendPerShare" xlink:to="label_GrossDividendPerShare" xlink:title="Label : GrossDividendPerShare to label_GrossDividendPerShare" />
    <link:label xlink:type="resource" xlink:label="label_GrossDividendPerShare_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrossDividendPerShare_1" xml:lang="nl" id="label_GrossDividendPerShare_1">Voorgesteld slotdividend, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossDividendPerShare" xlink:to="label_GrossDividendPerShare_1" xlink:title="Label : GrossDividendPerShare to label_GrossDividendPerShare_1" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_NNsBulgarianPensionAndLifeInsuranceBusinessMember" xlink:label="NNsBulgarianPensionAndLifeInsuranceBusinessMember" xlink:title="NNsBulgarianPensionAndLifeInsuranceBusinessMember" />
    <link:label xlink:type="resource" xlink:label="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember" xml:lang="nl" id="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember">De Bulgaarse pensioen- en levensverzekeringsactiviteiten van NN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NNsBulgarianPensionAndLifeInsuranceBusinessMember" xlink:to="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember" xlink:title="Label : NNsBulgarianPensionAndLifeInsuranceBusinessMember to label_NNsBulgarianPensionAndLifeInsuranceBusinessMember" />
    <link:label xlink:type="resource" xlink:label="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_1" xml:lang="nl" id="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_1">Dit element staat voor het Bulgaarse pensioen- en levensverzekeringsbedrijf van NN.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NNsBulgarianPensionAndLifeInsuranceBusinessMember" xlink:to="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_1" xlink:title="Label : NNsBulgarianPensionAndLifeInsuranceBusinessMember to label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_1" />
    <link:label xlink:type="resource" xlink:label="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_2" xml:lang="nl" id="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_2">De Bulgaarse pensioen- en levensverzekeringsactiviteiten van NN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NNsBulgarianPensionAndLifeInsuranceBusinessMember" xlink:to="label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_2" xlink:title="Label : NNsBulgarianPensionAndLifeInsuranceBusinessMember to label_NNsBulgarianPensionAndLifeInsuranceBusinessMember_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" xlink:label="AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" xlink:title="AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" xml:lang="nl" id="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities">bijzondere waardeverminderingen en afschrijvingen van materiële en immateriële activa, vastgoedbeleggingen en effecten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" xlink:to="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" xlink:title="Label : AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities to label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_1" xml:lang="nl" id="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_1">bijzondere waardeverminderingen en afschrijvingen van materiële en immateriële activa, vastgoedbeleggingen en effecten</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" xlink:to="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_1" xlink:title="Label : AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities to label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_2" xml:lang="nl" id="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_2">Aanpassingen voor afschrijvingen en bijzondere waardeverminderingen van materiële en immateriële activa, vastgoedbeleggingen en effecten om de winst (het verlies) aan te sluiten op de nettokasstroom uit (aangewend voor) bedrijfsactiviteiten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities" xlink:to="label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_2" xlink:title="Label : AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities to label_AdjustmentsForDepreciationImpairmentAndAmortisationOfPropertyAndEquipmentIntangibleFixedAssetsInvestmentPropertyAndSecurities_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_FirstInterimDividendPaidPerShare" xlink:label="FirstInterimDividendPaidPerShare" xlink:title="FirstInterimDividendPaidPerShare" />
    <link:label xlink:type="resource" xlink:label="label_FirstInterimDividendPaidPerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FirstInterimDividendPaidPerShare" xml:lang="nl" id="label_FirstInterimDividendPaidPerShare">Het bedrag van het eerste interimdividend dat per gewoon aandeel wordt uitgekeerd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstInterimDividendPaidPerShare" xlink:to="label_FirstInterimDividendPaidPerShare" xlink:title="Label : FirstInterimDividendPaidPerShare to label_FirstInterimDividendPaidPerShare" />
    <link:label xlink:type="resource" xlink:label="label_FirstInterimDividendPaidPerShare_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirstInterimDividendPaidPerShare_1" xml:lang="nl" id="label_FirstInterimDividendPaidPerShare_1">Eerste interim-dividend uitgekeerd, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstInterimDividendPaidPerShare" xlink:to="label_FirstInterimDividendPaidPerShare_1" xlink:title="Label : FirstInterimDividendPaidPerShare to label_FirstInterimDividendPaidPerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_FirstInterimDividendPaidPerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FirstInterimDividendPaidPerShare_2" xml:lang="nl" id="label_FirstInterimDividendPaidPerShare_2">Eerste interim-dividend uitgekeerd, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstInterimDividendPaidPerShare" xlink:to="label_FirstInterimDividendPaidPerShare_2" xlink:title="Label : FirstInterimDividendPaidPerShare to label_FirstInterimDividendPaidPerShare_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_SecondInterimDividendPaidPerShare" xlink:label="SecondInterimDividendPaidPerShare" xlink:title="SecondInterimDividendPaidPerShare" />
    <link:label xlink:type="resource" xlink:label="label_SecondInterimDividendPaidPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SecondInterimDividendPaidPerShare" xml:lang="nl" id="label_SecondInterimDividendPaidPerShare">Tweede interim-dividend uitgekeerd, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecondInterimDividendPaidPerShare" xlink:to="label_SecondInterimDividendPaidPerShare" xlink:title="Label : SecondInterimDividendPaidPerShare to label_SecondInterimDividendPaidPerShare" />
    <link:label xlink:type="resource" xlink:label="label_SecondInterimDividendPaidPerShare_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SecondInterimDividendPaidPerShare_1" xml:lang="nl" id="label_SecondInterimDividendPaidPerShare_1">Tweede interim-dividend uitgekeerd, per aandeel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecondInterimDividendPaidPerShare" xlink:to="label_SecondInterimDividendPaidPerShare_1" xlink:title="Label : SecondInterimDividendPaidPerShare to label_SecondInterimDividendPaidPerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_SecondInterimDividendPaidPerShare_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SecondInterimDividendPaidPerShare_2" xml:lang="nl" id="label_SecondInterimDividendPaidPerShare_2">Het bedrag van het tweede interimdividend dat per gewoon aandeel wordt uitgekeerd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecondInterimDividendPaidPerShare" xlink:to="label_SecondInterimDividendPaidPerShare_2" xlink:title="Label : SecondInterimDividendPaidPerShare to label_SecondInterimDividendPaidPerShare_2" />
    <link:loc xlink:type="locator" xlink:href="213800X3Q9LSAKRUWY91-2021-12-31.xsd#kbc_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits" xlink:label="FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits" xlink:title="FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits" xml:lang="nl" id="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits">Het bedrag van de financiële activa exclusief geldmiddelen, tegoeden bij centrale banken en andere zichtdeposito’s</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits" xlink:to="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits" xlink:title="Label : FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits to label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits_1" xml:lang="nl" id="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits_1">Financiële activa</link:label>
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    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits_2" xml:lang="nl" id="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits_2">Financiële activa</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits" xlink:to="label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits_2" xlink:title="Label : FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits to label_FinancialAssetsExcludingCashCashBalancesWithCentralBanksAndDemandDeposits_2" />
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