Good composition and lighting/exposure, but if it were not for the title I would not have a clue as to what is going on here. Two sugar cubes might have worked better, one to give the splash an one that is about to hit so it gives the stand alone image more meaning. Make sense?
Nice stop action! It would be nice if you could still see the sugar cube (which is, I assume, what made the splash). Also, a slightly longer focus and tighter crop, eliminating the negative space at the top, would improve the image. As it is, the large white space leaves one wondering why the whole cup is not in the frame and the splash is not all in focus?