Hungary won three golds, two silver and a bronze, while the Germans claimed three golds, one silver and two bronze.
The powerful duo especially dominated in the longer races, over 500m and 1000m.
The friendly rivalry between the two sets of fans - many of whom arrived at Eton Dorney with drums and vuvuzelas to cheer on their athletes - was one of the defining features of the week at the lake.
However, the 23-year-old New Zealander Lisa Carrington outclassed and out-gunned the Hungarian Natasa Douchev-Janics in the women's Kayak Single (K1) 200m.
Carrington started out as a beach lifeguard and was by far the quickest over 200m at Eton Dorney in the final.
Douchev-Janics, 30, was left so deflated she questioned afterwards whether she would go for gold in four years time.
Australia also had their moment in the men's Kayak Four (K4) 1000m - the crew of Dave Smith, Jacob Clear, Murray Stewart and Tate Smith won gold.
The rivalry between canoeists and rowers - who did not perform as well for the country at London 2012 - was not lost on them. 'I'd take one gold over five silvers any day,' quipped Smith.
Perhaps the last word should go to a veteran athlete. At 47, the Italian Josefa Idem arrived in London to compete in her eighth Olympic Games.
And the one-time Olympic champion nearly won a medal after making the final of the women's K1 500m.
The mother-of-two has even pledged to go to Rio 2016 - as a journalist.