The central part says 'Volim Partizan'. So I googled that, and came up with a football club. I'm assuming the wording (crno bele boje kao oci cvoje) is related to the club, like an anthem. '
Something about black and white eyes? 'crno' is black, 'bele' is white and 'oci' is eye or eyes.
The only reason I say that, is because 'belo' is white in Russian (beli in Czech), 'cepno' is black in Russian (cerna in Czech), and 'oci' is eyes in Czech.
I learned Russian in school, so I learned how to read Cyrillic there. One of my good friends growing up was Czech and she had comics she used to help me read, so I do remember bits and pieces. Speaking and reading Greek is what helped me pick up on the Cyrillic alphabet.