Clever way of combining two columns in SQLite?

I'm sorry if this fells like code golf, but I trying to avoid getting data out of the database, do processing in application code for something that would require slooow loops over a data set where there are indices that would help in the grouping.

Is there any way at all to get from a data set like this:

sqlite> create table tst  (id INTEGER, label TEXT, variable TEXT, value FLOAT);
sqlite> insert into tst values (1,"label1","variable 1",1.2);
sqlite> insert into tst values (1,"label2","variable 2",2.2);
sqlite> insert into tst values (1,"label3","variable 3",3.2);
sqlite> select * from tst;
id          label       variable    value     
----------  ----------  ----------  ----------
1           label1      variable 1  1.2       
1           label2      variable 2  2.2       
1           label3      variable 3  3.2  

to be returned like this:

sqlite> <magic query here> 
id          label1_variable1   label2_variable2    label3_variable3     
----------  ----------         ----------          ----------
1           1.2                2.2                 3.2       

that is, in wide format rather than long format?

Please advice, or help me just by proving that is cannot be done.