A properly manufactured XLR > XLR (or TRS > TRS, they are electrically the same) cable is "balanced" in that it will be fully compatible with the balanced equipment it is connected to at either end.
If you connect two balanced equipments with an "unbalanced" cable (e.g. consumer grade phono) the whole becomes unbalanced.
Similarly, if you connect one balanced and one unbalanced equipment with an XLR > XLR (or, more likely, a TRS > TRS), the whole is unbalanced.
For practical purposes, the issue is that long runs of XLR cables will withstand noise, but with unbalanced connections you should keep the cable runs as short as possible.
Best of luck! Worthwhile getting your head round this, because understanding the principles helps diagnose many problems.