The celebrations usually culminate with a mass gathering on Brussels historic market square, but this year it is not to be.
The ULB today took to the micro-blogging website Twitter to announce the cancellation of the event:
"Following the analysis of the threat Belgium's crisis centre is advising against staging a gathering on the Grand Place."
The VUB sent out a similar message an hour later.
The party was supposed to start at noon. The cancellation is linked to heightened security following the terrorist attacks in Paris and fears of a similar bloodbath on the streets of Brussels.