Its mostly a broth with mushrooms, onion (I think) and maybe sour cream?... We cut up Polish Sausage and hard boiled eggs and add it to the soup before we eat it.
Borsch is mostly traditional Easter or Christmas Eve soup. It is made different and served different however.
What you mentioned above it would be the one served at Easter, with chunks of sausage, eggs, bread, including small pieces of blessed food from the Easter basket. I just had it last Sunday! Yummm.