Salaries are very low, to Belgian standards.
Your type-rating will be paid for but your salary as F/O will not be over 2000€ nett monthly.
Otherwise the guys over there are having quite some fun.
Hubair has an agreement with VLM: if you do the MCC with them, the course will act as selection assessment:
http://www.hubair.be/courses/mcc.htm
Be aware though, as said before AF-KLM took-over VLM a few days ago, and VLM might be absorbed by AF-KLM subsidiary Cityjet sooner or later.
Some on the Belgian aviation forum Luchtzak.be speculate that VLM may actually cease operations, and that its slots at LCY would be used to shift AF-KL flights from LHR. Although I don't see it happening myself, it is a possibility.