The aim of this study was to evaluate the impact of the components of a goat cheese water-soluble extract (WSE) on its flavor by both physicochemical and sensory techniques with special emphasis on taste. After characterization of the organoleptic properties of the cheese, the WSE was extracted with pure water and submitted to successive tangential ultrafiltrations and nanofiltration. The physicochemical assessment of these fractions led to the constitution of a model mixture (MWSE) compared by sensory evaluation to the crude WSE, using a panel of 16 trained members. The results of both sensory profile and triangular tests indicate no significant difference, therefore proving that the reconstitution of the WSE was correct, thereby showing the sensory neutrality of lipids and peptides smaller than 500 Da, which had not been included in the MWSE. Moreover, the cheese gustatory characteristics are comparable to those of the WSE despite weaker levels of sharpness and astringency in the extract, the respective origins of which are discussed.