In a small pot, make the caramel by adding sugar and water and cooking without stirring until it gets golden brown. Transfer immediately to your baking mold and try to cover it as much as possible.
In another pot, heat the sugar and water and slowly bring them to a boil. Once it is boiling, cook for 12 minutes, turn off the heat, and let it get cold. You should have medium-thick syrup.
Beat the egg yolks with a hand mixer and add the syrup gradually until fully incorporated.
Transfer the egg yolk mixture to the mold with the caramel and place it over a big baking tray. Add water until you reach about half of the height of the baking mold to make a water bath.
Preheat the oven to 130ºC.
Cover the mold with foil and transfer it to the oven. Bake for 1 hour.
Remove from the oven and let it get cold. Flip over a baking tray, slice, and serve.