Olivier,

My Hungarian is pretty rudimentary. So take this with a grain of salt.

I think that:
1st line is a location: Badacsonyiba, on Lake Balaton
2d Line: location & date: Krems November 15, [18] 39?
3d line: a dedication: In memory of a friend
4th line: last name and first name of the friend: Kalchbrenner Ferengtöl [a variant spelling of "Ferenc"?]

johnwladis