Works fine for me with userform labels, althoug I did spot a typo in your doe

[vba]

With Worksheets("Sheet1")

For num = 1 To 15 Step 1

fstcellnum = 20 + num
seccellnum = 21 + num
Controls("Lblnumel" & num).Caption = num & ".) " & _
.Range("B" & fstcellnum).Value & Nextline & _
.Range("B" & seccellnum).Value 'what i want it to equal
Next num
End With
[/vba]

You should learn to use Option Explicit