Meanwhile, the home side realistically need to avoid defeat against the world's best team if they are to remain in with a chance of avoiding relegation to Section B.
In the space of less than a week, Belgium have gone from being on a 12-match winning streak spanning almost two years to going back-to-back fixtures without recording a victory.
Although the failure to defeat either Ivory Coast or England will not necessarily concern Roberto Martinez, he will want to end their blip as soon as possible.
Martinez may allude to the fact that a weakened side only failed to beat Ivory Coast due to a late penalty and the defeat versus the Three Lions came courtesy of another spot kick and a heavily-deflected shot.
Nevertheless, failing to score from open play is a rarity for Belgium, and Martinez will call for that to be put right in a game which they will want to win by a wide margin.
Now facing a one-point deficit to England, the Red Devils will look to further boost their goal difference in the event that it becomes decisive next month.
While Iceland can mathematically still finish top of this group, the Scandinavian side are realistically out of the picture with their focus solely on remaining in the top tier.
Their heavy defeat to Denmark at the weekend has left Iceland sitting four points adrift of third, meaning that Erik Hamren's side require at least one win and one draw from their remaining fixtures.
With their Euro 2020 playoff against Hungary next month getting their full attention, Hamren and his squad may be happy to write off this campaign over the coming weeks.
That said, there are still places up for grabs for that showdown, something which should provide Strakarnir okkar with an extra edge against the best team in the world.
Iceland Nations League form: LLL
Iceland form (all competitions): WWLLWL
Belgium Nations League form: WWL
Belgium form (all competitions): WWWWDL
Iceland star Gylfi Sigurdsson could drop down to the substitutes' bench after beginning the last two fixtures.
Veteran Ragnar Sigurdsson is also expected to be handed a rest by Hamren.
Iceland possible starting lineup:
Halldorsson; Paisson, Arnason, Ingason, Magnusson; Anderson, Bjarnason, Sigurjonsson, Gudmundsson; Finnbogason, Bodvarsson
Belgium possible starting lineup:
Mignolet; Alderweireld, Denayer, Dendoncker; Meunier, Witsel, Tielemans, Carrasco; Trossard, Mertens; Lukaku
We say: Iceland 0-4 Belgium
Even if Martinez opts to make a number of alterations for this contest, we can only see one victor. Belgium will want to further boost their goal difference, and the Red Devils will likely show a ruthless streak on Wednesday.