Well done - I can see the spike in your hand - I guess you pricked the balloon, it burst, and you fired the camera, all in one fell swoop. The balloon would have shrunk away from the spike, round the outside of the ball of water, and away out of the bottom of the pix.
This image is similar to others in the challenge, but this shot doesn't quite measure up to the others due to the balloon still in the frame and the spread of the water droplets. It isn't as clean as the others. On its own, the hand and the lighting of the hand is a distraction, although the flame appearance of the orange ballon adds a certain flair.