Plain English Meaning
It is a decision to stop landing and go back around for another try, made very late — when you are already over the runway, just touching down, or rolling out.
Full Definition
A balked landing is a go-around initiated late in the approach or landing sequence — typically after the airplane has crossed the runway threshold and is in the flare, touchdown, or rollout phase — when the pilot decides not to complete the landing and transitions back to a climb.
Context Anchor
Used during approach, flare, touchdown, and go-around training when a landing becomes unsafe or unstable and the pilot must abandon it.