Well...not really. The "Schlieffen Plan" was the move through the Netherlands and Belgian plain, but that was not really what happened in WW2 - it was not the 'second time Germany pulled the same trick'. In WW2 the Germans 'faked' the Schlieffen Plan and lured the French and British into a trap.
The Schlieffen plan *WAS* anticipated by the French and British, and they placed the best of their units along the Belgian border. The Belgians were supposed to have allowed French and British troops to move into Belgium into forward prepared positions, but Belgium decided to declare neutrality until invaded (in some foolish hope that Germany would prefer to pound it's head against the French Maginot Line to the south instead). Silly Belgians.
As soon as Germany invaded Belgium the French troops were allowed to cross the border, but now were not able to reach their designated defensive positions (Germany having gotten a head start) and had to have meeting engagements in the field (losing the defender advantage).
However, THIS was the trick. The main German effort was planned to occur through the forests just to the NORTH of the Maginot Line, but also SOUTH of the more open land considered better suited for the warfare. The French and British thought the Ardennes forest was impassable to tanks, and as such put 2nd class divisions (with very few tanks) and reserve troops guarding it. So, as the British and French raced into Belgium to encounter what they thought was the main German attack (in a Schlieffen Plan replay), the real thrust was happening to the south of them. They were soon caught in a salient - a 'bulge' - and quickly the best Allied units were vulnerable to being cut off.
Despite being warned by their own reconnaissance aircraft and captured plans from a downed German aircraft, they ignored the Ardennes until it was too late. By then the Germans had a solid advance going, which thereafter cut off the Allied troops with amazing speed for the time (eg Blitzkrieg).. then there was Dunkerque and the loss of all the equipment of two major armies. 300,000 troops did manage to escape, including 100,000 French.
Now that the Germans had knocked out the British Army and defeated the best of the French units in the north, they turned south. They met occasional stiff resistance but now they severely outnumbered the French units and the end was only a matter of time.
Contrary to some popular beliefs, the Maginot Line was never breached from the front (once surrounded a few smaller forts were captured) and the French had more tanks with better armor and guns than the Germans did. The defeat was really one of leadership, strategy and tactics.