Depends on your components. The designs of balanced outputs can vary greatly.
Balanced connections have two signals, a positive and a negative signal, which are inverted versions of each other. They carry the signal currents. At the destination, these are subtracted from each other to create the signal. Any noise that is the same on both cables will be subtracted-out. There is also usually a ground that does not carry signal current - it's function is to force the grounds in the two components to the same potential. The ground conductor can be a wire or an overall shield surrounding the other two signal conductors.
Unbalanced or Single-Ended connections have a signal and a ground RETURN. Both of these carry current and the signal is driven at the source with the return current flowing back to the source on the ground conductor. The ground conductor can be a wire or a coaxial shield, depending on the design.
