cmake fails with path having spaces in a hierarchical organization

Question

I'm encountering a path problem when going to a per directory CMakeList.txt to a hierarchical organization.

Platform: windows 7  
Cmake portable : cmake-3.10.2-win64-x64  
git-bash in Git : PortableGit-2.16.1.3-64-bit  
MinGW : the one shipped with codeblocks-17.12mingw-nosetup  
make --version: 3.81  
mingw32-make --version: 3.82.90

I launch everything from git-bash.

I can only use portable apps installed in a directory that has spaces (sic!).

The project is organized like this:

/demos-cpp
     build/
     CMakeList.txt
     [...]
     modplayer/
          build/
          CMakeLists.txt
          [...]

It works fine when I run cmake -G "Unix Makefiles" .. in the app/build sub-dir using this CMakeLists.txt file:

cmake_minimum_required(VERSION 3.0)

set(CMAKE_RC_COMPILER windres)

project(pj-modplayer VERSION 1.0 LANGUAGES CXX)

set(SOURCES
    main.cc
    ModLoader.cc
    ../common/ByteReader.cc
    ../common/ChunkyMode.cc
    )   

set(HEADERS
    protracker.hh
    ModLoader.hh
    )

if(WIN32)
    set(RESOURCES resources.rc)
endif()

math( EXPR BITS "8*${CMAKE_SIZEOF_VOID_P}" )
set( EXECUTABLE_NAME ${PROJECT_NAME}-x${BITS} )

link_directories( $ENV{SDL2_PATH}/lib )

# The executable file will be generate in the bin/ directory
#set(EXECUTABLE_OUTPUT_PATH bin/)

add_executable( ${EXECUTABLE_NAME} ${SOURCES} ${HEADERS} ${RESOURCES} )

target_compile_features( ${EXECUTABLE_NAME} PRIVATE cxx_std_11 )

target_include_directories( ${EXECUTABLE_NAME}
    PUBLIC $ENV{SDL2_PATH}/include ../common
    )

target_compile_definitions( ${EXECUTABLE_NAME}
    PUBLIC WIN32
        )
if(CMAKE_COMPILER_IS_GNUCXX)
    target_compile_options( ${EXECUTABLE_NAME}
        PUBLIC -fexceptions
        PUBLIC -Wall
    )
endif()

if(WIN32)
    target_link_libraries(
        ${EXECUTABLE_NAME}
        mingw32         # remove to get back to non terminal app with a WinMain
        ws2_32
        SDL2main
        SDL2
    )
else()
    target_link_libraries(
        ${EXECUTABLE_NAME}
        SDL2main
        SDL2
    )
endif()

But, when I try to make my build system hierarchical and create a very simple CMakeLists.txt in the parent directory:

cmake_minimum_required(VERSION 3.0 FATAL_ERROR)

set(CMAKE_RC_COMPILER windres)

project(myproject VERSION 0.1 LANGUAGES CXX)

add_subdirectory(modplayer)

It fails compiling the resource file:

[ 83%] Building RC object modplayer/CMakeFiles/pj-modplayer-x32.dir/resources.rc.obj
'D:\Users\XXXXXX\Documents\Mes' not recognized as an internal or external command operable program or batch file.
D:\Users\XXXXXX\Documents\Mes Outils Personnels\apps\MinGW\bin\windres.exe: preprocessing failed.
make[2]: *** [modplayer/CMakeFiles/pj-modplayer-x32.dir/resources.rc.obj] Error 1
make[1]: *** [modplayer/CMakeFiles/pj-modplayer-x32.dir/all] Error 2
make: *** [all] Error 2

When I look at how processes are called using make --debug=j, there're big differences between the one that works and the one that fail.

The one that fails:

[ 16%] Building RC object modplayer/CMakeFiles/pj-modplayer-x32.dir/resources.rc.obj  
Reaping winning child 0x01d916b8 PID 30998520  
CreateProcess(NULL,D:/Users/XXXXX/Documents/Mes Outils Personnels/apps/PortableGit/usr/bin/sh.exe -c "cd D:/Users/XXXXX/Documents/DEV/demos-cpp/build/modplayer && windres -O coff -DWIN32 -ID:/Users/XXXXX/Documents/DEV/SDL2-2.0.7/i686-w64-mingw32/include -ID:/Users/XXXXX/Documents/DEV/demos-cpp/modplayer/../common D:/Users/XXXXX/Documents/DEV/demos-cpp/modplayer/resources.rc CMakeFiles/pj-modplayer-x32.dir/resources.rc.obj",...)  
Live child 0x01d916b8 (modplayer/CMakeFiles/pj-modplayer-x32.dir/resources.rc.obj) PID 30998520

The one that works:

[ 16%] Building RC object CMakeFiles/pj-modplayer-x32.dir/resources.rc.obj Reaping winning child 0x00461770 PID 4586800
CreateProcess(D:\Users\XXXXX\Documents\Mes Outils Personnels\apps\MinG \bin\windres.exe,windres -O coff -DWIN32 -ID:/Users/XXXXX/Documents/DEV/SDL2-2.0.7/i686-w64-mingw32/include -ID:/Users/XXXXX/Documents/DEV/demos-cpp/modplayer/../common D:/Users/XXXXX/Documents/DEV/demos-cpp/modplayer/resources.rc CMakeFiles/pj-modplayer-x32.dir/resources.rc.obj,...)
Live child 0x00461770 (CMakeFiles/pj-modplayer-x32.dir/resources.rc.obj) PID 4586800
Reaping winning child 0x00461770 PID 4586800
Removing child 0x00461770 PID 4586800 from chain.

The CreateProcess called to compile the resource file using windres are totally different.

I don't understand why it fails just for windres whereas it works for g++.

If one could help to give me clues where to look at, it would be nice.

Thanks for reading.