In your stomach, food and liquid gets churned and processed with acid and enzymes, so by the time it moves into your intestines it is basically just liquid.

As it passes through your intestines, a lot of the molecules in it will go through the membrane and into your blood. This includes most of the water and most of the small nutritional molecules like sugars, but leaves behind other things like large non-digestible molecules like fiber.

What doesn't leave your intestines ends up forming your feces. Your urine, on the other hand, is blood that has been filtered by your kidneys.