Each balsam has its own unique recipe, which is passed down from generation to generation, and contains various herbs and spices such as mint, cinnamon, St. John's wort, ginger, orange peel, etc. Depending on the recipe, the balsam can be sweet or bitter, and it can contain different amounts of alcohol. Some balms also contain honey, which adds even more flavor and aroma.

Balsams are typically consumed as a digestif after meals or as a medicinal drink to promote health. They can be used as a base for cocktails or consumed on their own, neat or with ice. Balms are believed to improve digestion, relieve stomach pain, and help with colds.