Financial analyzes and financial reports of companies provide a range of information that is essential for evaluating the business and financial success of the company. Financial reports provide company owners with information about the company's operations and warn of possible problems. For a successful analysis of financial statements, it is necessary to interpret them well and obtain the right information that can be useful in future business. Consequently, it can be said that the analysis of financial statements is the process of using various analytical techniques and means by which information obtained from financial statements is transformed into important information for further business and business improvement. The food industry is one of the most important economic branches in the Republic of Croatia and represents an unavoidable factor in the successful development of the industry and economy. In this paper, the financial statements of the company Pan-Pek d.o.o. are analyzed. and Pekare Dubravica d.o.o. over three years (2019 to 2021). This provided answers to questions about the adequacy of the asset structure, sufficiency of working capital, liquidity, indebtedness and economy, asset turnover, income and expenditure structure, and other financial individual and synthetic indicators in view of the changes occurring in the economy such as the COVID-19 pandemic. . Overall, the financial results of these two companies show different trends and performances during the period from 2019 to 2021. The company Pan-Pek d.o.o. achieved higher revenues and higher expenses than Pekara Dubravica d.o.o., but achieved a lower profit for the year, i.e. in 2021 it reported a loss.