Code
<?php
ini_set('error_reporting', E_ALL);
ini_set('display_errors', 1);
set_time_limit(360000);
ini_set("memory_limit","9000M");

header ('Content-type: text/html; charset=ISO-8859-2');
$db = new PDO('mysql:host=localhost;port=3306; dbname=mecz_ubb;', 'root', 'mecz');

//  ubbt_ADDRESS_BOOK ubbt_ADMIN_LOG ubbt_ADMIN_SEARCHES ubbt_ANNOUNCEMENTS ubbt_BANNED_EMAILS ubbt_BANNED_HOSTS ubbt_BANNED_USERS ubbt_BBCODE ubbt_CACHE ubbt_CACHED_PERMISSIONS ubbt_CALENDAR_EVENTS ubbt_CAPTCHA ubbt_CATEGORIES ubbt_CENSOR_LIST ubbt_CHECK_DATA ubbt_CP_PERMISSIONS ubbt_DISPLAY_NAMES ubbt_FILES ubbt_FORUMS ubbt_FORUM_LAST_VISIT ubbt_FORUM_PERMISSIONS ubbt_GRAEMLINS ubbt_GROUPS ubbt_LANGUAGES ubbt_MAILER ubbt_MEMBER_SEARCHES ubbt_MODERATORS ubbt_MODERATOR_NOTIFICATIONS ubbt_ONLINE ubbt_PAYPAL_DATA ubbt_PERMISSION_LIST ubbt_POINTER_DELETE ubbt_POLL_DATA ubbt_POLL_OPTIONS ubbt_POLL_VOTES ubbt_PORTAL_BOXES ubbt_POSTS
$table = "ubbt_POSTS";

$q = $db->query("DESCRIBE $table ");
$fields = $q->fetchAll(PDO::FETCH_OBJ);
$fieldsArr = array();
foreach($fields as $row){
        $fieldsArr[] = $row->Field;
}

$db->query("TRUNCATE utf_{$table}");

$q = $db->query("SELECT * FROM $table");
$data = $q->fetchAll(PDO::FETCH_OBJ);

$db->query("SET NAMES UTF8");

foreach($data as $row){

  $values = array();
  foreach($fields as $field){
    $fname = $field->Field;
    $val = $row->$fname;
    $val = iconv('ISO-8859-2','UTF-8', $val);
    $values[]  = "'{$val}'";
  }

  $sql = "INSERT INTO utf_{$table} (".implode(',', $fieldsArr).") VALUES (".implode(',', $values).")";
  $st = $db->query($sql);
}

Does this script seem right for changing the encoding of data within the database to UTF-8?