Let's first make the meatballs. Combine all meatball ingredients and mix well. Form into apricot sized meatballs. Chill in refrigerator for at least 1 hour.
In a large pot, heat oil. Add onion, carrot, celery and garlic. Saute until vegetables are softened.
Add bay leaf, crushed tomatoes, 4 cups water and bouillon cubes. Stir to combine. Add thyme, oregano and paprika. Stir to combine. Bring to a boil. Reduce to a simmer and cook for 20 minutes on low heat.
Add meatballs and simmer 15 minutes, until cooked through.
Add pepper and salt, if necessary.