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Heat 1 tablespoon olive oil in a medium saucepan over medium heat until shimmering. Add onion and garlic and cook, stirring, until slightly softened, about 3 minutes. Add chorizo and continue to cook until sausage is lightly browned, about 4 minutes more. Add wine and increase heat to medium-high. Bring to a boil and simmer until reduced by half, about 1 minute. Add chicken broth, vinegar, tomatoes, 1 1/2 teaspoons pimentón, crushed red pepper, and thyme. Reduce heat and simmer for 20 minutes, stirring occasionally. Season to taste with salt and pepper.
While the sauce is simmering, season fish with salt, pepper, and remaining teaspoon of pimentón. Heat remaining 1 1/2 tablespoons oil in a large skillet pan over high heat until shimmering. Carefully place cod in pan skin-side down. Cook without moving until skin is crisp and nicely browned, about 3 minutes. Carefully flip fish, reduce heat to medium and continue cooking until fish is firm to the touch and no longer opaque, 4 to 5 minutes longer. Transfer fish to a paper towel-lined plate to rest.
Add baguette slices to pan. Brown on one side and let it and soak up the pan juices. Flip after 1 minute and brown on the other side for about 30 seconds. Remove from heat.
Discard thyme sprigs from tomato broth. Plate fish by spooning a generous amount of broth into individual bowls. Top with fish, two slices of baguette and parsley and serve immediately.