The extrapolation of effects from controlled standard laboratory tests to real environmental conditions is a major challenge facing Ecological Risk Assessment (ERA) of chemicals. Toxicokinetic‐Toxicodynamic (TKTD) models, such as those based on Dynamic Energy Budget (DEB) theory, can play an important role in filling this gap. Through the years, different practical TKTD models have been derived from DEB theory, ranging from the full ‘standard’ DEB animal model to simplified ‘DEBtox’ models. It is currently unclear what impact a different level of model complexity can have on the regulatory risk assessment. In this study, we compare the performance of two DEB‐TKTD models with different level of complexity, focussing on model calibration on standard test data and on forward‐predictions for untested time‐variable exposure profiles. The first model is based on the standard DEB model with primary parameters (stdDEB‐TKTD) whereas the second is a reduced version with compound parameters, based on DEBkiss (DEBtox2019). After harmonisation of the modelling choices, we demonstrate that these two models can achieve very similar performances both in the calibration and in the forward prediction step. With the data presented in this study, selection of the most‐suitable TKTD model for ERA therefore cannot be based alone on goodness‐of‐fit nor on the precision of model predictions (within current ERA procedures for pesticides), but would likely be based on the trade‐off between ease of use and model flexibility. We also stress the importance of modelling choices, such as how to fill gaps in the information content of experimental toxicity data, and how to accommodate differences in growth and reproduction between different data sets for the same chemical‐species combination.