It’s not easy to compare the two models, as one is made up of 8 meshes while the other is a single mesh. Can you have the same structure for the models (either a single mesh, or 8) for comparison purposes?
One thing that’s different is that one of the models has the __root__ node, which is created when a glTF file is loaded. I think this model comes from the sandbox, as you’d expect this node to be exported because it exists in the scene.
What you might want to do is delete this node. The easiest way to do this is to set the parent of Cut_XXX meshes to null:
This way, the transformation matrices (the identity) are the same as for the single-mesh model. As it is not positioned in the same place, this means that the vertices are not the same… I’m not sure why the .babylon export would change the mesh vertices, though. Can you share the original .gltf/.glb file, before conversion to .babylon?