Having become the first team to win the competition with a perfect record - they also defeated Lyon in the semi-finals - the bar has been set high ahead of their defense, which begins with Wednesday's visit of Atletico Madrid.
"Our goal is always to be as successful as possible in the Champions League," said Flick, who has had to contend with the loss of Thiago Alcantara to Liverpool this season.
"Ideally, it should be like last season, but I know it is extremely difficult. There are great opponents in the Champion League. It has to be game by game.
"It is a different team from last season and every team has its strengths and weaknesses.
"As for now, I am fairly satisfied. We have had only one week of training with everyone together, but there is more depth in our squad now.
"What's important is that the players pick up as few injuries as possible. We have to look after them.
"If we look at it game by game, I'm sure that we have the quality to be successful – maybe even as successful as last year."
The Group A opener against Atletico will pit Flick against an experienced campaigner in the shape of Diego Simeone, a man he respects greatly.
"It will be a game that will be on equal terms because Atletico are a team that reflects on the pitch what their coach Diego Simeone stands for and that is passion," Flick said.
"I look forward to the game and the coach who has been doing outstanding work there for the past nine years."
This will be the seventh meeting between Bayern and Atletico in the competition, with the German team edging the head-to-head record after three wins and two losses.
The last time they were drawn in the same group, each side won their home match 1-0 and went on to qualify from the knockout phase.
Bayern striker Robert Lewandowski will be aiming to become the first player to score in 10 consecutive Champions League fixtures in the group stage, moving him clear of Cristiano Ronaldo.