IMHO, plastic pots/buckets are much better than the blocks. They hold moisture better. And, what may be more important on a balcony, the weight of the blocks can be a serious factor. If the supporting structure isn't build sturdy enough or has hidden damage, the whole thing can come crashing down.
One other structural issue -- blocks containing soil in direct contact with wooden decking material will speed up the decay process. If the plants are properly watered, the wood under the blocks never dries.
Buckets/pots are easier to move around as needed. Easier to store during off season.
With pots and buckets the containers can be sized to meet the needs of the individual plants. While there are some, as a general rule most vegetables require more root area than a cement/cinder block can contain. FWIW, I've planted holes in the blocks, several times. Even with ornamental plants, they don't do as well as those planted in pots at the same location.
Using the blocks to make raised beds, then, planting the holes with small trailing herbs and such works OK. The soil in the bed helps temper the water loss from the blocks.
Just 2-cents.
Lee