It's exactly the same data, and if sent through the same audio pipeline, will come out sounding exactly the same. If the audio data entering the audio pipeline as source material isn't the same, then the compression scheme isn't truly lossless, or wasn't the same starting material to begin. eg. If a system used 24bit uncompressed audio and 16 bit lossless compressed, or 48kHz uncompressed audio and 44.1kHz lossless compressed, even though the codec is lossless, the quality won't be the same because the source material isn't the same.
It's no different to viewing a simple 16 colour graphic in uncompressed BMP or lossless PNG. the data is exactly the same. If on a computer the PNG looks different to the BMP, it's because either it's not going through the same rendering pipeline, perhaps being viewed on a different monitor or through a different input, or it's because the data within the PNG didn't come from exactly the same source image as the BMP. The PNG compression system doesn't alter the data. It doesn't shift the brightness, hue, RGB value, or anything. Lossless audio compression, if truly lossless and not bugged!, will take the same 1s and 0s of a digital audio stream and record such that they are read back as exactly the same data. Any variation to the audio doesn't come from the codec.
It's for this reason that some are seriously sceptical of audiophile claims and attribute them to 'the human element' because the facts are that there can be no difference, and anyone claiming to be hearing a difference because of the codec isn't. The only possible explanations are :
1) Their test isn't valid, routing the different audio sources through different audio pipelines, or using different source material for the different test samples.
2) There is no difference and any reported differences come from a fault in perception.
3) That science doesn't truly understand the nature of digital data, and it's possible for the form a data is delivered in to affect it's real-world properties. eg. If you fold a letter into half three times and put it in an envelope and post it to someone, what they receive at the end isn't 'as nice' as if you sent the letter unfolded in a bigger envelope, even though the content is exactly the same. Thus if you 'fold' an audio stream to preserve all data but make it smaller, perhaps the nature of unfolding it even at the audio source level, somehow on a quantum, spectral, natural energy level, affects the nature of the audio so it's not as nice as if it was never folded? This theory covers both perspectives, that there can't be a difference and yet people report a difference. But I don't attribute much plausibility to this theory!