We are talking part 25 jets.
Let me expand on that. I have a little time in King Airs so my memory may be off. I seem to recall you had to have accelerate stop ability but no accelerate go, this via the AFM. Now with part 25 jets (I say jets to simplify the discussion) your AFM will limit you to a take off weight that allows you to either:
A 115% of the take off run, both engines
B Accelerate to V1, lose an engine and stop
C Accelerate to V1, lose an engine continue the take off and climb to 35 by the departure end of the runway/clearway
D Structural limit
Your required runway is the longest or A, B or C. The book never really tells you which one your take off data is predicated on. But, knowing that the take off distance in the tab data (or performance computer output) is giving you the longest of those three, at V1 you are "guaranteed" to stop on the runway, assuming you used a runway that was at least as long as your data says.
Balanced field lenght is when accelerate go and accelerate stop are the same distance. I've been taught that changing v1 and/or engine power (flex power) achieve this. This gives you a more manageable high speed abort and also gives you, I'm not sure how to word it, more options when takeing off. ie, you can lose the engine at lower speeds and still go, not having to delve into that danger zone of aborts above 80 knots.
All runways and conditions aren't static or the same day to day, the BFL is the "SHORTEST" runway you have this, runways longer than that are just gravy.