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I do not think it is a Drogue chute, but I have to admit, I had to think about that for a bit, I was a Medic with the Canadian Airbourn Regt for a few years back in the 80s, I know this is NOT for...

What would be good to see is the top if the chute, to see if there is "hole" there.

As for LBA, I did a search and found a lot, try L B A Germany, and making sure you leave spaces between the...

I think L B A is a German Company that still makes para stuff, if I am correct in that, and as the wording is in English, this would have to be post WW2.

Looks like a cargo chute to me