Hi Rik--nope, no idea from me.

It may well be at least characters from two different fonts. I cannot find any single font with the pointy 'N' characters and a flat-topped 'A', especially that flattened.

Messing around, I also cannot find and exact match where the bowl of the 'U' also has a flat-topped 'A', or the 'C' terminates the same, or 3 equal lengths on the 'E', etc., etc.

Sorry.