In a mixing bowl combine ground beef with bread crumbs, parmesan cheese, minced onion, egg, garlic cloves, parsley, basil, red pepper flakes, salt, and black pepper until well incorporated.
Shape mixture into bite-sized balls then heat olive oil in skillet over medium heat before adding meatballs; cook until browned all around.
While cooking meatballs, dice onions, carrots, tomatoes, and more garlic; remove cooked meatballs set aside then sauté diced veggies until softened.
Pour water along with beef stock into pot then stir in tomato paste along with additional spices; return cooked meatballs back into pot allowing everything to simmer together.
Once broth reaches boiling point add either homemade or store-bought gnocchi stirring gently until they float indicating doneness; this won’t take long!
Finish off by adding optional parmesan rind if desired; serve hot garnished with freshly grated/shaved parmesan cheese on top!