Moving the fan to the other side of the heatsink and keeping the air moving in the same direction will produce similar performance results.
In your second picture, you could cause a performance decrease, if you don't also reverse the direction of the case fan that sits right behind the heatsink, in most systems.
Typically, front, bottom, and side fans pull cool air into the case. Top and rear fans suck hot air our of the case. The heatsink fan should flow the same as the flow through the case.