Photos from the scene show a man kneeling with his hands up, while police point their guns at him.
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According to local press, a security guard alerted police to a man acting suspiciously this afternoon.
The incident comes months after 32 people were killed in a dual terror attacks on the city’s airport and subway system.
The country is now gearing up to celebrate Belgium’s National Day tomorrow, with heightened security in Brussels for the festivities.
Despite the sweltering heat, the man prompted suspicion as he wore a long coat, which is said to have had cables hanging from it.
The suspect has not been arrested but police reportedly have the situation under control.
Police arrived and a large security cordon has been put in place in the Place de la Monnaie area.
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Officers are now determining if he is wearing any explosives.
