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<!-- Generated by Fujitsu Interstage XWand B0255 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:aqf="http://www.aquafil.com/2024-12-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ProfitLossAttributableToOwnersOfParent" xlink:title="ProfitLossAttributableToOwnersOfParent"/>
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    <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:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_MinorityInterestNetEquity" xlink:label="MinorityInterestNetEquity" xlink:title="MinorityInterestNetEquity"/>
    <link:label xlink:type="resource" xlink:label="label_MinorityInterestNetEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MinorityInterestNetEquity" xml:lang="it" id="label_MinorityInterestNetEquity">Risultato di esercizio di pertinenza di terzi</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestNetEquity" xlink:to="label_MinorityInterestNetEquity" xlink:title="label: MinorityInterestNetEquity to label_MinorityInterestNetEquity"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonCurrentFinancialAssetsRelatedParty" xlink:label="Non-currentFinancialAssetsRelatedParty_2" xlink:title="Non-currentFinancialAssetsRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_Non-currentFinancialAssetsRelatedParty_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-currentFinancialAssetsRelatedParty" xml:lang="it" id="label_Non-currentFinancialAssetsRelatedParty_2">Attività finanziarie non correnti, operazioni con parti correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-currentFinancialAssetsRelatedParty_2" xlink:to="label_Non-currentFinancialAssetsRelatedParty_2" xlink:title="label: Non-currentFinancialAssetsRelatedParty to label_Non-currentFinancialAssetsRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_OtherCurrentAssetsRelatedParty" xlink:label="OtherCurrentAssetsRelatedParty" xlink:title="OtherCurrentAssetsRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentAssetsRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentAssetsRelatedParty" xml:lang="it" id="label_OtherCurrentAssetsRelatedParty">Altre attività correnti, correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentAssetsRelatedParty" xlink:to="label_OtherCurrentAssetsRelatedParty" xlink:title="label: OtherCurrentAssetsRelatedParty to label_OtherCurrentAssetsRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_CurrentFinancialLiabilitiesRelatedParty" xlink:label="CurrentFinancialLiabilitiesRelatedParty" xlink:title="CurrentFinancialLiabilitiesRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_CurrentFinancialLiabilitiesRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentFinancialLiabilitiesRelatedParty" xml:lang="it" id="label_CurrentFinancialLiabilitiesRelatedParty">Passività finanziarie correnti, correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentFinancialLiabilitiesRelatedParty" xlink:to="label_CurrentFinancialLiabilitiesRelatedParty" xlink:title="label: CurrentFinancialLiabilitiesRelatedParty to label_CurrentFinancialLiabilitiesRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_RevenueRelatedParty" xlink:label="RevenueRelatedParty" xlink:title="RevenueRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_RevenueRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueRelatedParty" xml:lang="it" id="label_RevenueRelatedParty">Ricavi, correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueRelatedParty" xlink:to="label_RevenueRelatedParty" xlink:title="label: RevenueRelatedParty to label_RevenueRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringOtherIncome" xlink:label="Non-recurringOtherIncome" xlink:title="Non-recurringOtherIncome"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringOtherIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringOtherIncome" xml:lang="it" id="label_Non-recurringOtherIncome">Altri ricavi non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringOtherIncome" xlink:to="label_Non-recurringOtherIncome" xlink:title="label: Non-recurringOtherIncome to label_Non-recurringOtherIncome"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_RevenueAndOtherOperatingIncome" xlink:label="RevenueAndOtherOperatingIncome" xlink:title="RevenueAndOtherOperatingIncome"/>
    <link:label xlink:type="resource" xlink:label="label_RevenueAndOtherOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueAndOtherOperatingIncome" xml:lang="it" id="label_RevenueAndOtherOperatingIncome">Ricavi e altri ricavi operativi</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueAndOtherOperatingIncome" xlink:to="label_RevenueAndOtherOperatingIncome" xlink:title="label: RevenueAndOtherOperatingIncome to label_RevenueAndOtherOperatingIncome"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_RevenueAndOtherOperatingIncome" xlink:label="RevenueAndOtherOperatingIncome_2" xlink:title="RevenueAndOtherOperatingIncome"/>
    <link:label xlink:type="resource" xlink:label="label_RevenueAndOtherOperatingIncome_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_RevenueAndOtherOperatingIncome" xml:lang="it" id="label_RevenueAndOtherOperatingIncome_2">Totale ricavi e altri ricavi e proventi</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueAndOtherOperatingIncome_2" xlink:to="label_RevenueAndOtherOperatingIncome_2" xlink:title="label: RevenueAndOtherOperatingIncome to label_RevenueAndOtherOperatingIncome"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringRevenueAndOtherOperatingIncome" xlink:label="Non-recurringRevenueAndOtherOperatingIncome" xlink:title="Non-recurringRevenueAndOtherOperatingIncome"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringRevenueAndOtherOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringRevenueAndOtherOperatingIncome" xml:lang="it" id="label_Non-recurringRevenueAndOtherOperatingIncome">Ricavi a altri ricavi operativi, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringRevenueAndOtherOperatingIncome" xlink:to="label_Non-recurringRevenueAndOtherOperatingIncome" xlink:title="label: Non-recurringRevenueAndOtherOperatingIncome to label_Non-recurringRevenueAndOtherOperatingIncome"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_CostOfRawMaterialsAndChangesToInventories" xlink:label="CostOfRawMaterialsAndChangesToInventories" xlink:title="CostOfRawMaterialsAndChangesToInventories"/>
    <link:label xlink:type="resource" xlink:label="label_CostOfRawMaterialsAndChangesToInventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfRawMaterialsAndChangesToInventories" xml:lang="it" id="label_CostOfRawMaterialsAndChangesToInventories">Costo di acquisto MP e variaz. delle rimanenze</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfRawMaterialsAndChangesToInventories" xlink:to="label_CostOfRawMaterialsAndChangesToInventories" xlink:title="label: CostOfRawMaterialsAndChangesToInventories to label_CostOfRawMaterialsAndChangesToInventories"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringCostOfRawMaterialsAndChangesToInventories" xlink:label="Non-recurringCostOfRawMaterialsAndChangesToInventories" xlink:title="Non-recurringCostOfRawMaterialsAndChangesToInventories"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringCostOfRawMaterialsAndChangesToInventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringCostOfRawMaterialsAndChangesToInventories" xml:lang="it" id="label_Non-recurringCostOfRawMaterialsAndChangesToInventories">Costo di acquisto MP e variaz. delle rimanenze, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringCostOfRawMaterialsAndChangesToInventories" xlink:to="label_Non-recurringCostOfRawMaterialsAndChangesToInventories" xlink:title="label: Non-recurringCostOfRawMaterialsAndChangesToInventories to label_Non-recurringCostOfRawMaterialsAndChangesToInventories"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_ServiceCostsAndRentsLeasesAndSimilarCosts" xlink:label="ServiceCostsAndRentsLeasesAndSimilarCosts" xlink:title="ServiceCostsAndRentsLeasesAndSimilarCosts"/>
    <link:label xlink:type="resource" xlink:label="label_ServiceCostsAndRentsLeasesAndSimilarCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ServiceCostsAndRentsLeasesAndSimilarCosts" xml:lang="it" id="label_ServiceCostsAndRentsLeasesAndSimilarCosts">Costi per servizi e godimento beni di terzi</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServiceCostsAndRentsLeasesAndSimilarCosts" xlink:to="label_ServiceCostsAndRentsLeasesAndSimilarCosts" xlink:title="label: ServiceCostsAndRentsLeasesAndSimilarCosts to label_ServiceCostsAndRentsLeasesAndSimilarCosts"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringServiceCostsAndRentsLeasesAndSimilar" xlink:label="Non-recurringServiceCostsAndRentsLeasesAndSimilar" xlink:title="Non-recurringServiceCostsAndRentsLeasesAndSimilar"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringServiceCostsAndRentsLeasesAndSimilar" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringServiceCostsAndRentsLeasesAndSimilar" xml:lang="it" id="label_Non-recurringServiceCostsAndRentsLeasesAndSimilar">Costi per servizi e godimento beni di terzi, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringServiceCostsAndRentsLeasesAndSimilar" xlink:to="label_Non-recurringServiceCostsAndRentsLeasesAndSimilar" xlink:title="label: Non-recurringServiceCostsAndRentsLeasesAndSimilar to label_Non-recurringServiceCostsAndRentsLeasesAndSimilar"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty" xlink:label="ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty" xlink:title="ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty" xml:lang="it" id="label_ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty">Costi per servizi e godimento beni di terzi, di cui parti correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty" xlink:to="label_ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty" xlink:title="label: ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty to label_ServiceCostsAndRentsLeasesAndSimilarCostsRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringOtherCostsAndOperatingCharges" xlink:label="Non-recurringOtherCostsAndOperatingCharges" xlink:title="Non-recurringOtherCostsAndOperatingCharges"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringOtherCostsAndOperatingCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringOtherCostsAndOperatingCharges" xml:lang="it" id="label_Non-recurringOtherCostsAndOperatingCharges">Altri costi e oneri operativi, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringOtherCostsAndOperatingCharges" xlink:to="label_Non-recurringOtherCostsAndOperatingCharges" xlink:title="label: Non-recurringOtherCostsAndOperatingCharges to label_Non-recurringOtherCostsAndOperatingCharges"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_MiscellaneousOtherOperatingExpenseRelatedParty" xlink:label="MiscellaneousOtherOperatingExpenseRelatedParty" xlink:title="MiscellaneousOtherOperatingExpenseRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_MiscellaneousOtherOperatingExpenseRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MiscellaneousOtherOperatingExpenseRelatedParty" xml:lang="it" id="label_MiscellaneousOtherOperatingExpenseRelatedParty">Altri costi e oneri operativi, di cui parti correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MiscellaneousOtherOperatingExpenseRelatedParty" xlink:to="label_MiscellaneousOtherOperatingExpenseRelatedParty" xlink:title="label: MiscellaneousOtherOperatingExpenseRelatedParty to label_MiscellaneousOtherOperatingExpenseRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_OtherCurrentNonFinancialLiabilitiesRelatedParty" xlink:label="OtherCurrentNonfinancialLiabilitiesRelatedParty" xlink:title="OtherCurrentNonfinancialLiabilitiesRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentNonfinancialLiabilitiesRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentNonfinancialLiabilitiesRelatedParty" xml:lang="it" id="label_OtherCurrentNonfinancialLiabilitiesRelatedParty">Altre passività non finanziarie correnti, correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentNonfinancialLiabilitiesRelatedParty" xlink:to="label_OtherCurrentNonfinancialLiabilitiesRelatedParty" xlink:title="label: OtherCurrentNonfinancialLiabilitiesRelatedParty to label_OtherCurrentNonfinancialLiabilitiesRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringProfitLossFromOperatingActivities" xlink:label="Non-recurringProfitLossFromOperatingActivities" xlink:title="Non-recurringProfitLossFromOperatingActivities"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringProfitLossFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringProfitLossFromOperatingActivities" xml:lang="it" id="label_Non-recurringProfitLossFromOperatingActivities">Risultato operativo, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringProfitLossFromOperatingActivities" xlink:to="label_Non-recurringProfitLossFromOperatingActivities" xlink:title="label: Non-recurringProfitLossFromOperatingActivities to label_Non-recurringProfitLossFromOperatingActivities"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringFinanceIncome" xlink:label="Non-recurringFinanceIncome" xlink:title="Non-recurringFinanceIncome"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringFinanceIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringFinanceIncome" xml:lang="it" id="label_Non-recurringFinanceIncome">Proventi finanziari, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringFinanceIncome" xlink:to="label_Non-recurringFinanceIncome" xlink:title="label: Non-recurringFinanceIncome to label_Non-recurringFinanceIncome"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_FinanceCostsRelatedParty" xlink:label="FinanceCostsRelatedParty" xlink:title="FinanceCostsRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_FinanceCostsRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceCostsRelatedParty" xml:lang="it" id="label_FinanceCostsRelatedParty">Oneri finanziari, di cui parti correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceCostsRelatedParty" xlink:to="label_FinanceCostsRelatedParty" xlink:title="label: FinanceCostsRelatedParty to label_FinanceCostsRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringProfitLossBeforeTax" xlink:label="Non-recurringProfitLossBeforeTax" xlink:title="Non-recurringProfitLossBeforeTax"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringProfitLossBeforeTax" xml:lang="it" id="label_Non-recurringProfitLossBeforeTax">Utile (perdita) prima delle imposte, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringProfitLossBeforeTax" xlink:to="label_Non-recurringProfitLossBeforeTax" xlink:title="label: Non-recurringProfitLossBeforeTax to label_Non-recurringProfitLossBeforeTax"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringTotalTaxExpenseIncome" xlink:label="Non-recurringTotalTaxExpenseIncome" xlink:title="Non-recurringTotalTaxExpenseIncome"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringTotalTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringTotalTaxExpenseIncome" xml:lang="it" id="label_Non-recurringTotalTaxExpenseIncome">Oneri (proventi) fiscali, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringTotalTaxExpenseIncome" xlink:to="label_Non-recurringTotalTaxExpenseIncome" xlink:title="label: Non-recurringTotalTaxExpenseIncome to label_Non-recurringTotalTaxExpenseIncome"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_ProfitLossRelatedParty" xlink:label="ProfitLossRelatedParty" xlink:title="ProfitLossRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_ProfitLossRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossRelatedParty" xml:lang="it" id="label_ProfitLossRelatedParty">Risultato di esercizio, di cui correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossRelatedParty" xlink:to="label_ProfitLossRelatedParty" xlink:title="label: ProfitLossRelatedParty to label_ProfitLossRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_AdjustmentsForFinanceCostsRelatedParty" xlink:label="AdjustmentsForFinanceCostsRelatedParty" xlink:title="AdjustmentsForFinanceCostsRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForFinanceCostsRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForFinanceCostsRelatedParty" xml:lang="it" id="label_AdjustmentsForFinanceCostsRelatedParty">Oneri finanziari, di cui correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForFinanceCostsRelatedParty" xlink:to="label_AdjustmentsForFinanceCostsRelatedParty" xlink:title="label: AdjustmentsForFinanceCostsRelatedParty to label_AdjustmentsForFinanceCostsRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_ProvisionsAndWriteDowns" xlink:label="ProvisionsAndWriteDowns" xlink:title="ProvisionsAndWriteDowns"/>
    <link:label xlink:type="resource" xlink:label="label_ProvisionsAndWriteDowns" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProvisionsAndWriteDowns" xml:lang="it" id="label_ProvisionsAndWriteDowns">Accantonamenti e svalutazioni</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionsAndWriteDowns" xlink:to="label_ProvisionsAndWriteDowns" xlink:title="label: ProvisionsAndWriteDowns to label_ProvisionsAndWriteDowns"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets" xlink:label="AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets" xlink:title="AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets"/>
    <link:label xlink:type="resource" xlink:label="label_AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets" xml:lang="it" id="label_AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets">Ammortamenti e svalutazioni delle attività materiali e immateriali</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets" xlink:to="label_AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets" xlink:title="label: AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets to label_AmortisationDepreciationWriteDownsOfTangibleAndIntangibleAssets"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_AdjustmentsForNonMonetaryDecreaseIfrs16" xlink:label="AdjustmentsForNonMonetaryDecreaseIFRS16" xlink:title="AdjustmentsForNonMonetaryDecreaseIFRS16"/>
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForNonMonetaryDecreaseIFRS16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForNonMonetaryDecreaseIFRS16" xml:lang="it" id="label_AdjustmentsForNonMonetaryDecreaseIFRS16">Variazione non monetaria IFRS 16</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForNonMonetaryDecreaseIFRS16" xlink:to="label_AdjustmentsForNonMonetaryDecreaseIFRS16" xlink:title="label: AdjustmentsForNonMonetaryDecreaseIFRS16 to label_AdjustmentsForNonMonetaryDecreaseIFRS16"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty" xlink:label="AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty" xlink:title="AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty" xml:lang="it" id="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty">Rettifiche per l'aumento (diminuzione) dei debiti verso fornitori, di cui correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty" xlink:to="label_AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty" xlink:title="label: AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty to label_AdjustmentsForIncreaseDecreaseInTradeAccountPayableRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty" xlink:label="AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty" xlink:title="AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty" xml:lang="it" id="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty">Rettifiche per la diminuzione (aumento) dei crediti verso clienti, di cui correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty" xlink:to="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty" xlink:title="label: AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty to label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivableRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_ChangesToAssetsAndLiabilities" xlink:label="ChangesToAssetsAndLiabilities" xlink:title="ChangesToAssetsAndLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_ChangesToAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangesToAssetsAndLiabilities" xml:lang="it" id="label_ChangesToAssetsAndLiabilities">Variazioni di attività e passività</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesToAssetsAndLiabilities" xlink:to="label_ChangesToAssetsAndLiabilities" xlink:title="label: ChangesToAssetsAndLiabilities to label_ChangesToAssetsAndLiabilities"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_ChangesToAssetsAndLiabilitiesRelatedParty" xlink:label="ChangesToAssetsAndLiabilitiesRelatedParty" xlink:title="ChangesToAssetsAndLiabilitiesRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_ChangesToAssetsAndLiabilitiesRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangesToAssetsAndLiabilitiesRelatedParty" xml:lang="it" id="label_ChangesToAssetsAndLiabilitiesRelatedParty">Variazioni di attività e passività, di cui correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesToAssetsAndLiabilitiesRelatedParty" xlink:to="label_ChangesToAssetsAndLiabilitiesRelatedParty" xlink:title="label: ChangesToAssetsAndLiabilitiesRelatedParty to label_ChangesToAssetsAndLiabilitiesRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_UtilisationOfProvisions" xlink:label="UtilisationOfProvisions" xlink:title="UtilisationOfProvisions"/>
    <link:label xlink:type="resource" xlink:label="label_UtilisationOfProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UtilisationOfProvisions" xml:lang="it" id="label_UtilisationOfProvisions">Utilizzo dei fondi</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UtilisationOfProvisions" xlink:to="label_UtilisationOfProvisions" xlink:title="label: UtilisationOfProvisions to label_UtilisationOfProvisions"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NetChangesInCurrentFinancialAssetsAndLiabilities" xlink:label="NetChangesInCurrentFinancialAssetsAndLiabilities" xlink:title="NetChangesInCurrentFinancialAssetsAndLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_NetChangesInCurrentFinancialAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetChangesInCurrentFinancialAssetsAndLiabilities" xml:lang="it" id="label_NetChangesInCurrentFinancialAssetsAndLiabilities">Variazioni nette di attività e passività finanziarie correnti </link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetChangesInCurrentFinancialAssetsAndLiabilities" xlink:to="label_NetChangesInCurrentFinancialAssetsAndLiabilities" xlink:title="label: NetChangesInCurrentFinancialAssetsAndLiabilities to label_NetChangesInCurrentFinancialAssetsAndLiabilities"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty" xlink:label="NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty" xlink:title="NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty" xml:lang="it" id="label_NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty">Variazioni nette di attività e passività finanziarie correnti, di cui correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty" xlink:to="label_NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty" xlink:title="label: NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty to label_NetChangesInCurrentFinancialAssetsAndLiabilitiesRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_DividendsPaidClassifiedAsFinancingActivitiesRelatedParty" xlink:label="DividendsPaidClassifiedAsFinancingActivitiesRelatedParty" xlink:title="DividendsPaidClassifiedAsFinancingActivitiesRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidClassifiedAsFinancingActivitiesRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaidClassifiedAsFinancingActivitiesRelatedParty" xml:lang="it" id="label_DividendsPaidClassifiedAsFinancingActivitiesRelatedParty">Distribuzione dividendi, di cui correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidClassifiedAsFinancingActivitiesRelatedParty" xlink:to="label_DividendsPaidClassifiedAsFinancingActivitiesRelatedParty" xlink:title="label: DividendsPaidClassifiedAsFinancingActivitiesRelatedParty to label_DividendsPaidClassifiedAsFinancingActivitiesRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_ListingCostReserveMember" xlink:label="ListingCostReserveMember" xlink:title="ListingCostReserveMember"/>
    <link:label xlink:type="resource" xlink:label="label_ListingCostReserveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ListingCostReserveMember" xml:lang="it" id="label_ListingCostReserveMember">Riserva costi di quotazione</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ListingCostReserveMember" xlink:to="label_ListingCostReserveMember" xlink:title="label: ListingCostReserveMember to label_ListingCostReserveMember"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_FirstTimeAdoptionReserveMember" xlink:label="FirstTimeAdoptionReserveMember" xlink:title="FirstTimeAdoptionReserveMember"/>
    <link:label xlink:type="resource" xlink:label="label_FirstTimeAdoptionReserveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirstTimeAdoptionReserveMember" xml:lang="it" id="label_FirstTimeAdoptionReserveMember">Riserva FTA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstTimeAdoptionReserveMember" xlink:to="label_FirstTimeAdoptionReserveMember" xlink:title="label: FirstTimeAdoptionReserveMember to label_FirstTimeAdoptionReserveMember"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_RetainedEarningsExcludingNetResultForTheYearMember" xlink:label="RetainedEarningsExcludingNetResultForTheYearMember" xlink:title="RetainedEarningsExcludingNetResultForTheYearMember"/>
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsExcludingNetResultForTheYearMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarningsExcludingNetResultForTheYearMember" xml:lang="it" id="label_RetainedEarningsExcludingNetResultForTheYearMember">Risultati portati a nuovo</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsExcludingNetResultForTheYearMember" xlink:to="label_RetainedEarningsExcludingNetResultForTheYearMember" xlink:title="label: RetainedEarningsExcludingNetResultForTheYearMember to label_RetainedEarningsExcludingNetResultForTheYearMember"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember" xlink:label="PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember" xlink:title="PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember"/>
    <link:label xlink:type="resource" xlink:label="label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember" xml:lang="it" id="label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember">Risultato dell'esercizio o del periodo</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember" xlink:to="label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember" xlink:title="label: PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember to label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDateMember"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_Reserves" xlink:label="Reserves" xlink:title="Reserves"/>
    <link:label xlink:type="resource" xlink:label="label_Reserves" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Reserves" xml:lang="it" id="label_Reserves">Riserve</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Reserves" xlink:to="label_Reserves" xlink:title="label: Reserves to label_Reserves"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate" xlink:label="PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate" xlink:title="PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate"/>
    <link:label xlink:type="resource" xlink:label="label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate" xml:lang="it" id="label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate">Risultato dell'esercizio di pertinenza del Gruppo</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate" xlink:to="label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate" xlink:title="label: PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate to label_PortionOfRetainedEarningsRelatingToRelevantPeriodOrPeriodLeadingUpToRelevantDate"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_OtherNonCurrentFinancialLiabilitiesRelatedParty" xlink:label="OtherNoncurrentFinancialLiabilitiesRelatedParty" xlink:title="OtherNoncurrentFinancialLiabilitiesRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentFinancialLiabilitiesRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentFinancialLiabilitiesRelatedParty" xml:lang="it" id="label_OtherNoncurrentFinancialLiabilitiesRelatedParty">Altre passività finanziarie non correnti, correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentFinancialLiabilitiesRelatedParty" xlink:to="label_OtherNoncurrentFinancialLiabilitiesRelatedParty" xlink:title="label: OtherNoncurrentFinancialLiabilitiesRelatedParty to label_OtherNoncurrentFinancialLiabilitiesRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringEmployeeBenefitsExpense" xlink:label="Non-recurringEmployeeBenefitsExpense" xlink:title="Non-recurringEmployeeBenefitsExpense"/>
    <link:label xlink:type="resource" xlink:label="label_Non-recurringEmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Non-recurringEmployeeBenefitsExpense" xml:lang="it" id="label_Non-recurringEmployeeBenefitsExpense">Costi per benefici per i dipendenti, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Non-recurringEmployeeBenefitsExpense" xlink:to="label_Non-recurringEmployeeBenefitsExpense" xlink:title="label: Non-recurringEmployeeBenefitsExpense to label_Non-recurringEmployeeBenefitsExpense"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_AmortisationDepreciationAndWriteDowns" xlink:label="AmortisationDepreciationAndWriteDowns" xlink:title="AmortisationDepreciationAndWriteDowns"/>
    <link:label xlink:type="resource" xlink:label="label_AmortisationDepreciationAndWriteDowns" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmortisationDepreciationAndWriteDowns" xml:lang="it" id="label_AmortisationDepreciationAndWriteDowns">Ammortamenti e svalutazioni</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortisationDepreciationAndWriteDowns" xlink:to="label_AmortisationDepreciationAndWriteDowns" xlink:title="label: AmortisationDepreciationAndWriteDowns to label_AmortisationDepreciationAndWriteDowns"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_ProvisionsWriteDowns" xlink:label="ProvisionsWriteDowns" xlink:title="ProvisionsWriteDowns"/>
    <link:label xlink:type="resource" xlink:label="label_ProvisionsWriteDowns" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProvisionsWriteDowns" xml:lang="it" id="label_ProvisionsWriteDowns">Accantonamenti e svalutazioni</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionsWriteDowns" xlink:to="label_ProvisionsWriteDowns" xlink:title="label: ProvisionsWriteDowns to label_ProvisionsWriteDowns"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringProfitLoss" xlink:label="NonRecurringProfitLoss" xlink:title="NonRecurringProfitLoss"/>
    <link:label xlink:type="resource" xlink:label="label_NonRecurringProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonRecurringProfitLoss" xml:lang="it" id="label_NonRecurringProfitLoss">Utile (perdita), di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonRecurringProfitLoss" xlink:to="label_NonRecurringProfitLoss" xlink:title="label: NonRecurringProfitLoss to label_NonRecurringProfitLoss"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringProfitLossAttributableToOwnersOfParent" xlink:label="NonRecurringProfitLossAttributableToOwnersOfParent" xlink:title="NonRecurringProfitLossAttributableToOwnersOfParent"/>
    <link:label xlink:type="resource" xlink:label="label_NonRecurringProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonRecurringProfitLossAttributableToOwnersOfParent" xml:lang="it" id="label_NonRecurringProfitLossAttributableToOwnersOfParent">Utile (perdita), attribuibile ai soci della controllante, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonRecurringProfitLossAttributableToOwnersOfParent" xlink:to="label_NonRecurringProfitLossAttributableToOwnersOfParent" xlink:title="label: NonRecurringProfitLossAttributableToOwnersOfParent to label_NonRecurringProfitLossAttributableToOwnersOfParent"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_CashAndCashAndOthers" xlink:label="CashAndCashAndOthers" xlink:title="CashAndCashAndOthers"/>
    <link:label xlink:type="resource" xlink:label="label_CashAndCashAndOthers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashAndOthers" xml:lang="it" id="label_CashAndCashAndOthers">Disponibilità liquide</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashAndOthers" xlink:to="label_CashAndCashAndOthers" xlink:title="label: CashAndCashAndOthers to label_CashAndCashAndOthers"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_OtherNonCurrentNonFinancialAssetsRelatedParty" xlink:label="OtherNoncurrentNonfinancialAssetsRelatedParty" xlink:title="OtherNoncurrentNonfinancialAssetsRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentNonfinancialAssetsRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentNonfinancialAssetsRelatedParty" xml:lang="it" id="label_OtherNoncurrentNonfinancialAssetsRelatedParty">Altre attività non finanziarie non correnti, correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentNonfinancialAssetsRelatedParty" xlink:to="label_OtherNoncurrentNonfinancialAssetsRelatedParty" xlink:title="label: OtherNoncurrentNonfinancialAssetsRelatedParty to label_OtherNoncurrentNonfinancialAssetsRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_OtherCurrentFinancialAssetsRelatedParty" xlink:label="OtherCurrentFinancialAssetsRelatedParty" xlink:title="OtherCurrentFinancialAssetsRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentFinancialAssetsRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentFinancialAssetsRelatedParty" xml:lang="it" id="label_OtherCurrentFinancialAssetsRelatedParty">Altre attività finanziarie correnti, correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentFinancialAssetsRelatedParty" xlink:to="label_OtherCurrentFinancialAssetsRelatedParty" xlink:title="label: OtherCurrentFinancialAssetsRelatedParty to label_OtherCurrentFinancialAssetsRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_OtherNonCurrentNonFinancialLiabilitiesRelatedParty" xlink:label="OtherNoncurrentNonfinancialLiabilitiesRelatedParty" xlink:title="OtherNoncurrentNonfinancialLiabilitiesRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentNonfinancialLiabilitiesRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentNonfinancialLiabilitiesRelatedParty" xml:lang="it" id="label_OtherNoncurrentNonfinancialLiabilitiesRelatedParty">Altre passività non finanziarie non ricorrenti, correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentNonfinancialLiabilitiesRelatedParty" xlink:to="label_OtherNoncurrentNonfinancialLiabilitiesRelatedParty" xlink:title="label: OtherNoncurrentNonfinancialLiabilitiesRelatedParty to label_OtherNoncurrentNonfinancialLiabilitiesRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_OtherIncomeRelatedParty" xlink:label="OtherIncomeRelatedParty" xlink:title="OtherIncomeRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_OtherIncomeRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherIncomeRelatedParty" xml:lang="it" id="label_OtherIncomeRelatedParty">Altri ricavi, di cui parti correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherIncomeRelatedParty" xlink:to="label_OtherIncomeRelatedParty" xlink:title="label: OtherIncomeRelatedParty to label_OtherIncomeRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_CostOfRawMaterialsAndChangesToInventoriesRelatedParty" xlink:label="CostOfRawMaterialsAndChangesToInventoriesRelatedParty" xlink:title="CostOfRawMaterialsAndChangesToInventoriesRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_CostOfRawMaterialsAndChangesToInventoriesRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfRawMaterialsAndChangesToInventoriesRelatedParty" xml:lang="it" id="label_CostOfRawMaterialsAndChangesToInventoriesRelatedParty">Costo di acquisto MP e variaz. delle rimanenze, di cui parti correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfRawMaterialsAndChangesToInventoriesRelatedParty" xlink:to="label_CostOfRawMaterialsAndChangesToInventoriesRelatedParty" xlink:title="label: CostOfRawMaterialsAndChangesToInventoriesRelatedParty to label_CostOfRawMaterialsAndChangesToInventoriesRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_AdjustmentsForFinanceIncomeRelatedParty" xlink:label="AdjustmentsForFinanceIncomeRelatedParty" xlink:title="AdjustmentsForFinanceIncomeRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForFinanceIncomeRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForFinanceIncomeRelatedParty" xml:lang="it" id="label_AdjustmentsForFinanceIncomeRelatedParty">Rettifiche per i proventi finanziari, di cui correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForFinanceIncomeRelatedParty" xlink:to="label_AdjustmentsForFinanceIncomeRelatedParty" xlink:title="label: AdjustmentsForFinanceIncomeRelatedParty to label_AdjustmentsForFinanceIncomeRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NonRecurringRevenue" xlink:label="NonRecurringRevenue" xlink:title="NonRecurringRevenue"/>
    <link:label xlink:type="resource" xlink:label="label_NonRecurringRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonRecurringRevenue" xml:lang="it" id="label_NonRecurringRevenue">Ricavi, di cui non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonRecurringRevenue" xlink:to="label_NonRecurringRevenue" xlink:title="label: NonRecurringRevenue to label_NonRecurringRevenue"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty" xlink:label="AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty" xlink:title="AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty" xml:lang="it" id="label_AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty">Variazione non monetaria IFRS 16 correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty" xlink:to="label_AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty" xlink:title="label: AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty to label_AdjustmentsForNonMonetaryDecreaseIfrs16RelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_DisclosureOfRawMaterialExpenses" xlink:label="DisclosureOfRawMaterialExpenses" xlink:title="DisclosureOfRawMaterialExpenses"/>
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfRawMaterialExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfRawMaterialExpenses" xml:lang="it" id="label_DisclosureOfRawMaterialExpenses">Informazioni integrative dei costi delle materie prime</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfRawMaterialExpenses" xlink:to="label_DisclosureOfRawMaterialExpenses" xlink:title="label: DisclosureOfRawMaterialExpenses to label_DisclosureOfRawMaterialExpenses"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory" xlink:label="DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory" xlink:title="DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory"/>
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory" xml:lang="it" id="label_DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory">Descrizione del principio contabile per ricavi e costi</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory" xlink:to="label_DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory" xlink:title="label: DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory to label_DescriptionOfAccountingPolicyForRevenuesAndExpensesExplanatory"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent" xlink:label="ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent" xlink:title="ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent"/>
    <link:label xlink:type="resource" xlink:label="label_ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent" xml:lang="it" id="label_ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent">Distinzione di attività e passività tra correnti e non correnti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent" xlink:to="label_ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent" xlink:title="label: ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent to label_ClassificationOfAssetsAndLiabilitiesAsCurrentOrNonCurrent"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_CostsForInternalWorkCapitalised" xlink:label="CostsForInternalWorkCapitalised" xlink:title="CostsForInternalWorkCapitalised"/>
    <link:label xlink:type="resource" xlink:label="label_CostsForInternalWorkCapitalised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostsForInternalWorkCapitalised" xml:lang="it" id="label_CostsForInternalWorkCapitalised">Costi per lavori interni capitalizzati</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostsForInternalWorkCapitalised" xlink:to="label_CostsForInternalWorkCapitalised" xlink:title="label: CostsForInternalWorkCapitalised to label_CostsForInternalWorkCapitalised"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_NetFinancialDebt" xlink:label="NetFinancialDebt" xlink:title="NetFinancialDebt"/>
    <link:label xlink:type="resource" xlink:label="label_NetFinancialDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetFinancialDebt" xml:lang="it" id="label_NetFinancialDebt">Indebitamento finanziario netto</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetFinancialDebt" xlink:to="label_NetFinancialDebt" xlink:title="label: NetFinancialDebt to label_NetFinancialDebt"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_DividendsReceivedRelatedParty" xlink:label="DividendsReceivedRelatedParty" xlink:title="DividendsReceivedRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivedRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsReceivedRelatedParty" xml:lang="it" id="label_DividendsReceivedRelatedParty">Dividendi ricevuti, di cui correlate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivedRelatedParty" xlink:to="label_DividendsReceivedRelatedParty" xlink:title="label: DividendsReceivedRelatedParty to label_DividendsReceivedRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_FinanceIncomeExpensesFromInvestmentsEquity" xlink:label="FinanceIncomeExpensesFromInvestmentsEquity" xlink:title="FinanceIncomeExpensesFromInvestmentsEquity"/>
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeExpensesFromInvestmentsEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceIncomeExpensesFromInvestmentsEquity" xml:lang="it" id="label_FinanceIncomeExpensesFromInvestmentsEquity">Proventi (e oneri) finanziari da partecipazioni</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeExpensesFromInvestmentsEquity" xlink:to="label_FinanceIncomeExpensesFromInvestmentsEquity" xlink:title="label: FinanceIncomeExpensesFromInvestmentsEquity to label_FinanceIncomeExpensesFromInvestmentsEquity"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_FinanceIncomeExpensesFromInvestmentsEquityRelatedParty" xlink:label="FinanceIncomeExpensesFromInvestmentsEquityRelatedParty" xlink:title="FinanceIncomeExpensesFromInvestmentsEquityRelatedParty"/>
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeExpensesFromInvestmentsEquityRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceIncomeExpensesFromInvestmentsEquityRelatedParty" xml:lang="it" id="label_FinanceIncomeExpensesFromInvestmentsEquityRelatedParty">Proventi (e oneri) finanziari da partecipazioni (di cui correlate)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeExpensesFromInvestmentsEquityRelatedParty" xlink:to="label_FinanceIncomeExpensesFromInvestmentsEquityRelatedParty" xlink:title="label: FinanceIncomeExpensesFromInvestmentsEquityRelatedParty to label_FinanceIncomeExpensesFromInvestmentsEquityRelatedParty"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties" xlink:label="PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties" xlink:title="PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties"/>
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties" xml:lang="it" id="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties">Variazione netta debiti verso RoU (di cui correlate)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties" xlink:to="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties" xlink:title="label: PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties to label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivitiesRelatedParties"/>
    <link:loc xlink:type="locator" xlink:href="aqf-2024-12-31.xsd#aqf_RepaymentOfBondLoan" xlink:label="RepaymentOfBondLoan" xlink:title="RepaymentOfBondLoan"/>
    <link:label xlink:type="resource" xlink:label="label_RepaymentOfBondLoan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentOfBondLoan" xml:lang="it" id="label_RepaymentOfBondLoan">Rimborso prestito obbligazionario</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfBondLoan" xlink:to="label_RepaymentOfBondLoan" xlink:title="label: RepaymentOfBondLoan to label_RepaymentOfBondLoan"/>
  </link:labelLink>
</link:linkbase>
