This article deals with the modelling of erosion and accumulation processes in the contemporary cultural landscape of Central Europe. The area of interest is the headwater part of the small stream catchment—the Kopaninský Stream in central Czech Republic. It is an agricultural and forest–agricultural landscape with a relatively rugged topography and riverbed slope, which makes the terrain very vulnerable to water erosion. The main aim of this article is to compare the results of four selected soil erosion and sediment delivery models, which are currently widely used to quantitate the soil erosion and sediment accumulation rates, respectively. The models WaTEM/SEDEM, USPED, InVEST and TerrSet work on several different algorithms. The model outputs are compared in terms of the total volume of eroded and accumulated sediment within the catchment per time unit, and further according to the spatial distribution of sites susceptible to soil loss or sediment accumulation. Although each model is based partly on a specific calculation algorithm and has different data pre-processing requirements, we have achieved relatively comparable results in calculating the average annual soil loss and accumulation. However, each model is distinct in identifying the spatial distribution of specific locations prone to soil loss or accumulation processes.