Here is an emblem from 1550 for comparison:
Leiden Ms Vossianus Chym Q 61, Sylva philosophorum, Cornelius Petraeus, 1550
The four elements are arranged at the vertices of a square, in the centre of which is the quintessence.
Water is in an antipathy relationship to fire, and the same applies to air and earth; in the remaining relationships between the elements there is a regime of sympathy.
In the first circle is written: 'Chaos, mass of confused form'; in the second: 'Hyle, primordial principle of matter'.
The caption quotes a verse from Genesis (1:26): "And God said, Let us make man in our image and likeness".