Czechoslovakia was dismantled by nazis, but it was restored in 1945 and this machine flew in 1948... Anyway, I agree with the idea that the record was unofficial, Žatec is fairly small and I would'nt expect FAI officials wandering there often. Also BAK flew only few times, its engine (Walter Mc aka M-431) was a prototype and soon it started behaving erratingly. It was then was removed and send back to the factory for adjustments and the machine back to Liberec. Soon after, as the article says, "the international political situation changed", i.e. the communist government started tightening the screws, and BAK never flew again. When the VOŠLM moved to Slovakia and BAK with it, where it existed "under development" until 1969, when was BAK transferred to Military History Institute in Prague and subsequently to Kbely.
I saw it several times in the Kbely museum, and never knew what it was. Shame.
AK could definitely mean aeroklubový, i.e. "for aeroclubs", or maybe akrobatický, "aerobatic", or something similar. BAK itself doesn't mean nothing in Czech. maybe there's something about it on the description table in the museum, but i doubt it, and I wouldn't be there again until summer.