Discard the outer leaves of the cabbage, quarter it, remove the hard core and finely slice the leaves.
Heat the oil in a saucepan and sweat the cabbage with the salt and pepper and mace until it gives off a nutty aroma and is glossy and relaxed. Add the balsamic vinegar and the sugar and cook to evaporate it. Add the red wine and bay leaves, cover the pan, turn the heat down low and braise for 17 minutes, stirring halfway through.
Add the cranberries, cover the pan, and cook for another 10 minutes, stirring halfway through.