It's not that simple. These flags, with the lion standard, were not issued until 1820. There were official fanions handed out as a temporarily measure - But that wasn't until the regiments returned from the Waterloo campaign in December 1815. White seems to be the general colour of Southern Dutch Regiments, as the 36ste Jagers carried a flag not unlike the 27ste, but white. A describtion says the following:
Description of the No. 36 flag in its present state: size: approximately 80 centimetres by 80 centimetres; colour: white; obverse: outer border with a simple oak leaf-like outer edge; in every corner a small bugle, diagonally placed with their bells pointed towards the centre; in the centre the text "BATAILLON/DE/CHASSEURS/No. 36"; reverse: as the obverse, except for the centre, which displays the crowned royal cipher "W".
You can see that the oak-leafs were popular way before the official standards were handed out.
The flag saying 'Comp Vrij willige Jagers' is not a fanion, but the Guidon of volunteer companies. Here is baron Van Breugel, a student at the time. He and many of his colleague-students formed a volunteer company that was attached to the 16de Jagers.
Flag of the 27ste Jager, not the same battalion but no doubt similar I'm sure
I don't think a line regiment would carry a light infantry flag.
The 7de reenactment group marching, you can somewhat see the flag
In this one I can somewhat see the words "AAN KONING EN VADERLAND" on the flag in this picture
There must be 'Gewyd' at the end, but yeah, I can read it too. I suppose the 7de is carrying the December Fanion.