Binary code is program that has been compiled and can be "executed" or run by the computer. It has to be the compiled for the correct architecture. Most desktops and laptops use a x86 variety, for portable devices ARM is common.
Often a binary file will need supporting files, for example libraries and frameworks.
Clicking on a binary in a filer window will run it. If nothing happens it can be instructive to run it in the terminal. Open a terminal emulator such as Urxvt. Either type in the full folder location and filename, or go to the folder and type in the filename. If the executable is in a PATH directory only the filename is required. Some errors are reported here, for example missing libraries.
BIN - common extension for a binary file