Floods are the most destructive natural phenomenon, by the total number of casualties, and value of property damage, compared to any other type of natural disaster. However, some of the most destructive flash floods are related to dam breaches or complete collapses, that release the large amounts of water, affecting inhabited areas. Worldwide, numerous dams have almost reached or surpassed the estimated construction life span, and pose an increasing risk to structure stability. Considering their continuous degrading state, increasing rainfall aggressiveness, due to climatic changes, technical error, or even human error, there are numerous, potential causes, for which dams could develop breaches and completely fail. This study aims to portray a comparative perspective of flood impact, with real-life consequences, measured by quantifiable parameters, generated from computer simulations of different breach sizes. These parameters include the total flooded surface, water velocity, maximum water depth, number of affected buildings, etc. The analysis was undergone by means of HEC-RAS based 2D hydraulic modeling and GIS, depending on high-accuracy Lidar terrain data and historical hydrological data. As a case study, Drăcșani Lake with the associated Sulița earthfill embankment dam was chosen, being one of the largest and oldest artificial lakes in Romania.