To improve the accuracy, reliability and validity of flood prediction models, this study proposes a regularized broad learning (RBL) model based on an improved variational mode decomposition (VMD). Firstly, grey correlation analysis was used to improve the endpoint effect of the VMD and the particle swarm optimisation (PSO) algorithm was used to optimise the VMD parameters. Then, using orthogonal triangular decomposition (QR), redefining the hidden layer output of BL model and adding forgettable online sequence learning mechanism (FOS) to construct online sequence BL (FOS-QR-RBL), which can significantly improve the computational efficiency of BL model. Finally, a flood forecasting method based on improved VMD-FOS-QR-RBL was constructed by combining the FOS-QR-RBL with the improved VMD and applying it to regional flood forecasting. The experimental results show that the computational efficiency of FOS-QR-RBL is improved by 35% and 23.68% compared with RBL and QR-RBL, respectively. The mean absolute error (MAE) of the coupling model of VMD and FOS-QR-RBL is reduced by 80.30% and 84.10% respectively, and the nash efficiency coefficient (Ens) is increased by 15.51% and 28.16% respectively, compared with that of the coupling model of FOS-QR-RBL with ensemble empirical mode decomposition (EEMD) and adaptive noise complete ensemble empirical mode decomposition (CEEMDAN). The results of the optimal operation based on VMD-FOS-OR-RBL show that the model can effectively reduce the economic losses caused by regional flooding.