Combine the water and sugar in a small saucepan set over medium heat. Cook, stirring occasionally, until sugar has dissolved completely. Remove from heat and allow to cool for about 5 minutes.
Place cranberries in a lidded container. Pour cooled syrup on top, cover, and refrigerate overnight, gently shaking the container a few times during this period to make sure the cranberries get completely coated in syrup. Drain cranberries, reserving syrup for another use if desired.
Line a baking sheet with paper towels. Place cranberries on baking sheet and, using another layer of paper towels on top, roll cranberries between paper towels to dry until just tacky. Remove paper towels.
Fill a small bowl with granulated sugar. Working with a few cranberries at a time, roll in sugar to coat. Return cranberries to baking sheet to dry (about 1 hour) before using. Meanwhile, toast walnuts.
Preheat oven to 350ºF. Spread walnuts out on a baking sheet.
Toast walnuts in preheated oven for about 10 minutes, until golden-brown and fragrant. Remove from oven and allow to cool briefly before chopping into small pieces.
Toast bread in a toaster oven or conventional oven as desired. Spread goat cheese on top of each slice and top with sugared cranberries and toasted walnuts. Drizzle with honey and serve immediately.
*It might go without saying, but you’ll want to use a yeast bread here. That being said, feel free to use a walnut levain or anything similar if you can’t find a cranberry-walnut loaf.