A component is a buidling block of an entity that handles a specific area of functionality. Every Entity in GBS starts with a core component known as a Spatial. This Spatial component handles everything relating to the positioning and rotation of a game object.
What if you want to display an image? You just add a renderer component of whatever type fits your needs and you add the image resource to that component. If you want an animated image you would use a SpriteSheetComponent. If you want to display a basic static image you add a SpriteComponent.