The badge on the right (blue background) comes from #Coll. MM#
The German text indicates that Vladimir Ivanov
won the M1X gold medal and the M2- silver medal
M2+ European Champion 1954 + 1955
(with Rolf Struli and cox Walter Ludin)
M1X bronze medal winner OG Tokyo 1964
According to the MICHEL catalogue the
first day of issue was Aug. 22nd but here
the postmark shows a date two day earlier.
This image is somewhat mysterious as apparently there are five M8+ competing whereas
only four lanes were available at the Ghent regatta course.