Not my area of expertise, but the right hand shield, the red eagle on a white background, looks to be the Eagle of the Holy Roman Empire (old style). Of the two parts of the left hand shield the black lion on a gold background is most commonly seen as the arms of Flanders, although there are other users.
I can't identify the green shield with two gold stripes at present. I wonder if these are the arms of a town or city somewhere in the Belgium / Netherlands / north-western Germany area ?
What is the item this display is on ? It might give a clue to the origin.
Maec