I stayed here for 2 nights in June of 2007. This place rocks. All of the rooms are beautifully painted, are spacious, have great windows. I believe its run by a man and woman and their teenage son who live there. Oh, and the dog that just wanders in and out as he pleases. The owner gave us great tips on cheap but delicious places to eat, several maps, a pass for getting discounts thoughout the town, everything. We hadn't found an ATM (bankomat) yet so he just told us to pay the next day or when we checked out. Breakfast was the normal fare. The rolls were fresh though, not stale and there was meat and cheeses and all that good stuff. basic but fine for our needs. We had 2 double beds and a bathroom en-suite. The pictures of the place on HostelWorld.com are exactly as it looks in the place. its down a quiet sidestreet just a few minute walk from the Markt (the main town area where the Belfy stands). It was just a really great place and we hated leaving there.
I would definitely reccomend this place to anyone heading to Bruges, especially a group. There wasn't much of a common room, kinda just the dining room where people ate breakfast or made other meals. For a single traveller it might not be right, but for our purposes it was sweet.
I hope someone else stays there soon and gets another positive experience out of it.
Full Disclosure: I am 26 years old, travelling with my 26 year old wife, 22 year old brother, and 18 year old sister. We always stayed in a 4 person en-suite room. This could definitely skew our impressions so I wanted to include it. Feel free to contact me if you have questions.