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<labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_DepreciationExpense" xlink:label="loc_ifrs-full_DepreciationExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DepreciationExpense" xml:lang="en">Depreciation expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationExpense" xlink:to="lab_ifrs-full_DepreciationExpense" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_DirectOperatingExpenseFromInvestmentProperty" xlink:label="loc_ifrs-full_DirectOperatingExpenseFromInvestmentProperty" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DirectOperatingExpenseFromInvestmentProperty" xml:lang="en">Direct operating expense from investment property</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DirectOperatingExpenseFromInvestmentProperty" xlink:to="lab_ifrs-full_DirectOperatingExpenseFromInvestmentProperty" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_ExpenseByNature" xlink:label="loc_ifrs-full_ExpenseByNature" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_ifrs-full_ExpenseByNature" xml:lang="en">Total expenses, by nature</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ExpenseByNature" xlink:to="lab_ifrs-full_ExpenseByNature" />
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_GrossRentalIncome" xlink:label="loc_erc_GrossRentalIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_GrossRentalIncome" xml:lang="en">Gross Rental Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_GrossRentalIncome" xlink:to="lab_erc_GrossRentalIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_GrossRentalIncome" xml:lang="en">Gross rental income.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xml:lang="en">Tax expense (income)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" />
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_NetResultFromInvestments" xlink:label="loc_erc_NetResultFromInvestments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_NetResultFromInvestments" xml:lang="en">Net Result From Investments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_erc_NetResultFromInvestments" xml:lang="en">Net Result From Investments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_NetResultFromInvestments" xlink:to="lab_erc_NetResultFromInvestments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_NetResultFromInvestments" xml:lang="en">Net result from investments.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_RentalIncome" xlink:label="loc_ifrs-full_RentalIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_RentalIncome" xml:lang="en">Rental income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RentalIncome" xlink:to="lab_ifrs-full_RentalIncome" />
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ServiceCosts" xlink:label="loc_erc_ServiceCosts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ServiceCosts" xml:lang="en">Service Costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_erc_ServiceCosts" xml:lang="en">Service Costs</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ServiceCosts" xlink:to="lab_erc_ServiceCosts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ServiceCosts" xml:lang="en">Service costs.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ServiceCostsNotRecharged" xlink:label="loc_erc_ServiceCostsNotRecharged" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ServiceCostsNotRecharged" xml:lang="en">Service Costs Not Recharged</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_erc_ServiceCostsNotRecharged" xml:lang="en">Service Costs Not Recharged</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ServiceCostsNotRecharged" xlink:to="lab_erc_ServiceCostsNotRecharged" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ServiceCostsNotRecharged" xml:lang="en">Service costs not recharged.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ServiceCostsRechargedToTenants" xlink:label="loc_erc_ServiceCostsRechargedToTenants" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ServiceCostsRechargedToTenants" xml:lang="en">Service Costs Recharged To Tenants</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ServiceCostsRechargedToTenants" xlink:to="lab_erc_ServiceCostsRechargedToTenants" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ServiceCostsRechargedToTenants" xml:lang="en">Service costs recharged to tenants.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xml:lang="en">Cash flows from (used in) financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xml:lang="en">Dividends paid, classified as financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xml:lang="en">Payments of lease liabilities, classified as financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_PurchaseOfTreasurySharesClassifiedAsFinancingActivities" xlink:label="loc_erc_PurchaseOfTreasurySharesClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_PurchaseOfTreasurySharesClassifiedAsFinancingActivities" xml:lang="en">Purchase Of Treasury Shares Classified As Financing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_erc_PurchaseOfTreasurySharesClassifiedAsFinancingActivities" xml:lang="en">Purchase Of Treasury Shares Classified As Financing Activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_PurchaseOfTreasurySharesClassifiedAsFinancingActivities" xlink:to="lab_erc_PurchaseOfTreasurySharesClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_PurchaseOfTreasurySharesClassifiedAsFinancingActivities" xml:lang="en">Purchase of treasury shares classified as financing activities.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="en">Repayments of borrowings, classified as financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_AcquisitionOfSubsidiaryErcKcnBVNetOfCashAcquired" xlink:label="loc_erc_AcquisitionOfSubsidiaryErcKcnBVNetOfCashAcquired" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_AcquisitionOfSubsidiaryErcKcnBVNetOfCashAcquired" xml:lang="en">Acquisition Of Subsidiary Erc Kcn B V Net Of Cash Acquired</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_erc_AcquisitionOfSubsidiaryErcKcnBVNetOfCashAcquired" xml:lang="en">Acquisition Of Subsidiary Erc Kcn B V Net Of Cash Acquired</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_AcquisitionOfSubsidiaryErcKcnBVNetOfCashAcquired" xlink:to="lab_erc_AcquisitionOfSubsidiaryErcKcnBVNetOfCashAcquired" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_AcquisitionOfSubsidiaryErcKcnBVNetOfCashAcquired" xml:lang="en">Acquisition of subsidiary erc kcn b v net of cash acquired.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_AcquisitionOfSubsidiaryErcVastgoedFondsmanagementBVNetOfCashAcquired" xlink:label="loc_erc_AcquisitionOfSubsidiaryErcVastgoedFondsmanagementBVNetOfCashAcquired" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_AcquisitionOfSubsidiaryErcVastgoedFondsmanagementBVNetOfCashAcquired" xml:lang="en">Acquisition Of Subsidiary Erc Vastgoed Fondsmanagement B V Net Of Cash Acquired</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_erc_AcquisitionOfSubsidiaryErcVastgoedFondsmanagementBVNetOfCashAcquired" xml:lang="en">Acquisition Of Subsidiary Erc Vastgoed Fondsmanagement B V Net Of Cash Acquired</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_AcquisitionOfSubsidiaryErcVastgoedFondsmanagementBVNetOfCashAcquired" xlink:to="lab_erc_AcquisitionOfSubsidiaryErcVastgoedFondsmanagementBVNetOfCashAcquired" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_AcquisitionOfSubsidiaryErcVastgoedFondsmanagementBVNetOfCashAcquired" xml:lang="en">Acquisition of subsidiary erc vastgoed fondsmanagement b v net of cash acquired.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xml:lang="en">Cash advances and loans made to other parties, classified as investing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xml:lang="en">Cash flows from (used in) investing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_InvestmentInFinancialAssetsClassifiedAsInvestingActivities" xlink:label="loc_erc_InvestmentInFinancialAssetsClassifiedAsInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_InvestmentInFinancialAssetsClassifiedAsInvestingActivities" xml:lang="en">Investment In Financial Assets Classified As Investing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_erc_InvestmentInFinancialAssetsClassifiedAsInvestingActivities" xml:lang="en">Investment In Financial Assets Classified As Investing Activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_InvestmentInFinancialAssetsClassifiedAsInvestingActivities" xlink:to="lab_erc_InvestmentInFinancialAssetsClassifiedAsInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_InvestmentInFinancialAssetsClassifiedAsInvestingActivities" xml:lang="en">Investment in financial assets classified as investing activities.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_PurchaseOfInvestmentProperty" xlink:label="loc_ifrs-full_PurchaseOfInvestmentProperty" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PurchaseOfInvestmentProperty" xml:lang="en">Purchase of investment property</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfInvestmentProperty" xlink:to="lab_ifrs-full_PurchaseOfInvestmentProperty" />
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_AdjustmentForDepreciationOfRightOfUseAssets" xlink:label="loc_erc_AdjustmentForDepreciationOfRightOfUseAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_AdjustmentForDepreciationOfRightOfUseAssets" xml:lang="en">Adjustment For Depreciation Of Right Of Use Assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_AdjustmentForDepreciationOfRightOfUseAssets" xlink:to="lab_erc_AdjustmentForDepreciationOfRightOfUseAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_AdjustmentForDepreciationOfRightOfUseAssets" xml:lang="en">Adjustment for depreciation of right-of-use assets.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_AdjustmentForWriteoffOfIntangibleAssets" xlink:label="loc_erc_AdjustmentForWriteoffOfIntangibleAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_AdjustmentForWriteoffOfIntangibleAssets" xml:lang="en">Adjustment For Writeoff Of Intangible Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_erc_AdjustmentForWriteoffOfIntangibleAssets" xml:lang="en">Adjustment For Writeoff Of Intangible Assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_AdjustmentForWriteoffOfIntangibleAssets" xlink:to="lab_erc_AdjustmentForWriteoffOfIntangibleAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_AdjustmentForWriteoffOfIntangibleAssets" xml:lang="en">Adjustment for write-off of intangible assets.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdjustmentsForFinanceIncome" xlink:label="loc_ifrs-full_AdjustmentsForFinanceIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_AdjustmentsForFinanceIncome" xml:lang="en">Adjustments for finance income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForFinanceIncome" xlink:to="lab_ifrs-full_AdjustmentsForFinanceIncome" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:label="loc_ifrs-full_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" xml:lang="en">Adjustments for gains (losses) on fair value adjustment, investment property</label>
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<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_AdjustmentsForListingServiceExpenseTitanNVIfrs2" xlink:label="loc_erc_AdjustmentsForListingServiceExpenseTitanNVIfrs2" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_AdjustmentsForListingServiceExpenseTitanNVIfrs2" xml:lang="en">Adjustments For Listing Service Expense Titan N V IFRS 2</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_AdjustmentsForListingServiceExpenseTitanNVIfrs2" xml:lang="en">Adjustments for listing service expense titan n v IFRS 2.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="loc_ifrs-full_IncreaseDecreaseInWorkingCapital" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xml:lang="en">Increase (decrease) in working capital</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xml:lang="en">Cash flows from (used in) operating activities</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperations" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperations" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperations" xml:lang="en">Cash flows from (used in) operations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperations" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperations" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="loc_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xml:lang="en">Income taxes paid (refund), classified as operating activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:to="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:label="loc_ifrs-full_InterestPaidClassifiedAsOperatingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_InterestPaidClassifiedAsOperatingActivities" xml:lang="en">Interest paid, classified as operating activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:to="lab_ifrs-full_InterestPaidClassifiedAsOperatingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xml:lang="en">Increase (decrease) in cash and cash equivalents after effect of exchange rate changes</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" />
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_AllotmentOfNewSharesFormerTitanNV" xlink:label="loc_erc_AllotmentOfNewSharesFormerTitanNV" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_AllotmentOfNewSharesFormerTitanNV" xml:lang="en">Allotment Of New Shares Former Titan NV</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_AllotmentOfNewSharesFormerTitanNV" xlink:to="lab_erc_AllotmentOfNewSharesFormerTitanNV" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_AllotmentOfNewSharesFormerTitanNV" xml:lang="en">Allotment of new shares former titan nv.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_CancellationOfExistingSharesERCNV" xlink:label="loc_erc_CancellationOfExistingSharesERCNV" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_CancellationOfExistingSharesERCNV" xml:lang="en">Cancellation Of Existing Shares ERC NV</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_erc_CancellationOfExistingSharesERCNV" xml:lang="en">Cancellation Of Existing Shares ERC NV</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_CancellationOfExistingSharesERCNV" xlink:to="lab_erc_CancellationOfExistingSharesERCNV" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_CancellationOfExistingSharesERCNV" xml:lang="en">Cancellation of existing shares erc nv.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ContributionsFromAndToShareholders" xlink:label="loc_erc_ContributionsFromAndToShareholders" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ContributionsFromAndToShareholders" xml:lang="en">Contributions From And To Shareholders</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ContributionsFromAndToShareholders" xlink:to="lab_erc_ContributionsFromAndToShareholders" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ContributionsFromAndToShareholders" xml:lang="en">Contributions from and to shareholders.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ConversionSharePremiumToShareCapital" xlink:label="loc_erc_ConversionSharePremiumToShareCapital" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ConversionSharePremiumToShareCapital" xml:lang="en">Conversion Share Premium To Share Capital</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_erc_ConversionSharePremiumToShareCapital" xml:lang="en">Conversion Share Premium To Share Capital</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ConversionSharePremiumToShareCapital" xlink:to="lab_erc_ConversionSharePremiumToShareCapital" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ConversionSharePremiumToShareCapital" xml:lang="en">Conversion share premium to share capital.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_DebtConvertedSharesAsSharesIssuance" xlink:label="loc_erc_DebtConvertedSharesAsSharesIssuance" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_DebtConvertedSharesAsSharesIssuance" xml:lang="en">Debt Converted Shares As Shares Issuance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_DebtConvertedSharesAsSharesIssuance" xlink:to="lab_erc_DebtConvertedSharesAsSharesIssuance" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_DebtConvertedSharesAsSharesIssuance" xml:lang="en">Debt converted shares as shares issuance.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_DebtConvertedSharesShareAsSharePremiumContributions" xlink:label="loc_erc_DebtConvertedSharesShareAsSharePremiumContributions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_DebtConvertedSharesShareAsSharePremiumContributions" xml:lang="en">Debt Converted Shares Share As Share Premium Contributions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_DebtConvertedSharesShareAsSharePremiumContributions" xlink:to="lab_erc_DebtConvertedSharesShareAsSharePremiumContributions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_DebtConvertedSharesShareAsSharePremiumContributions" xml:lang="en">Debt converted shares share as share premium contributions.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_IssuanceOfNewSharesAsSharePremiumContributions" xlink:label="loc_erc_IssuanceOfNewSharesAsSharePremiumContributions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_IssuanceOfNewSharesAsSharePremiumContributions" xml:lang="en">Issuance Of New Shares As Share Premium Contributions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_IssuanceOfNewSharesAsSharePremiumContributions" xlink:to="lab_erc_IssuanceOfNewSharesAsSharePremiumContributions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_IssuanceOfNewSharesAsSharePremiumContributions" xml:lang="en">Issuance of new shares as share premium contributions.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_IssuanceOfNewSharesAsSharesIssuance" xlink:label="loc_erc_IssuanceOfNewSharesAsSharesIssuance" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_IssuanceOfNewSharesAsSharesIssuance" xml:lang="en">Issuance Of New Shares As Shares Issuance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_IssuanceOfNewSharesAsSharesIssuance" xlink:to="lab_erc_IssuanceOfNewSharesAsSharesIssuance" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_IssuanceOfNewSharesAsSharesIssuance" xml:lang="en">Issuance of new shares as shares issuance.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ListingserviceexpenseTitanNVIFRS2" xlink:label="loc_erc_ListingserviceexpenseTitanNVIFRS2" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ListingserviceexpenseTitanNVIFRS2" xml:lang="en">Listing service expense Titan NV IFRS 2</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ListingserviceexpenseTitanNVIFRS2" xlink:to="lab_erc_ListingserviceexpenseTitanNVIFRS2" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ListingserviceexpenseTitanNVIFRS2" xml:lang="en">Listing service expense titan nv ifrs 2.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ProfitAppropriation" xlink:label="loc_erc_ProfitAppropriation" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ProfitAppropriation" xml:lang="en">Profit Appropriation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ProfitAppropriation" xlink:to="lab_erc_ProfitAppropriation" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ProfitAppropriation" xml:lang="en">Profit appropriation.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_PurchaseOfTreasuryShares" xlink:label="loc_ifrs-full_PurchaseOfTreasuryShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PurchaseOfTreasuryShares" xml:lang="en">Purchase of treasury shares</label>
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<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ReclassificationOfIncorrectlyRecognisedRevaluationReserve" xlink:label="loc_erc_ReclassificationOfIncorrectlyRecognisedRevaluationReserve" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ReclassificationOfIncorrectlyRecognisedRevaluationReserve" xml:lang="en">Reclassification Of Incorrectly Recognised Revaluation Reserve</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_erc_ReclassificationOfIncorrectlyRecognisedRevaluationReserve" xml:lang="en">Reclassification Of Incorrectly Recognised Revaluation Reserve</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ReclassificationOfIncorrectlyRecognisedRevaluationReserve" xml:lang="en">Reclassification of incorrectly recognised revaluation reserve.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ReverseAcquisitionReserveTitan" xlink:label="loc_erc_ReverseAcquisitionReserveTitan" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ReverseAcquisitionReserveTitan" xml:lang="en">Reverse Acquisition Reserve Titan</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ReverseAcquisitionReserveTitan" xlink:to="lab_erc_ReverseAcquisitionReserveTitan" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ReverseAcquisitionReserveTitan" xml:lang="en">Reverse acquisition reserve titan.</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ResultForTheYearMember" xlink:label="loc_erc_ResultForTheYearMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ResultForTheYearMember" xml:lang="en">Result For The Year [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ResultForTheYearMember" xlink:to="lab_erc_ResultForTheYearMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ResultForTheYearMember" xml:lang="en">Result for the year [Member].</label>
<loc xlink:type="locator" xlink:href="724500IS1M4H9S4SDD39-2025-12-31.xsd#erc_ReverseAcquisitionReserveTitanMember" xlink:label="loc_erc_ReverseAcquisitionReserveTitanMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_erc_ReverseAcquisitionReserveTitanMember" xml:lang="en">Reverse Acquisition Reserve Titan [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_erc_ReverseAcquisitionReserveTitanMember" xlink:to="lab_erc_ReverseAcquisitionReserveTitanMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_erc_ReverseAcquisitionReserveTitanMember" xml:lang="en">Reverse acquisition reserve titan.</label>
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