Place chopped bacon in a large pot over medium heat. Cook until crispy and golden. Remove with a spoon and set aside, keeping the flavorful bacon fat in the pot.

Add beef cubes to the same pot in batches. Brown each piece on all sides for rich flavor. Remove the beef and set it aside with the cooked bacon.

Add chopped onions and sliced carrots to the pot. Cook for about five minutes until soft. Stir often, then add garlic and cook briefly until fragrant and aromatic.

Stir in tomato paste and flour. Mix well so everything coats evenly. Cook for about two minutes to remove the raw flour taste and build a rich base.

Slowly pour in beef broth and red wine. Stir well and scrape the bottom of the pot. This step lifts all the flavorful bits and creates a deep base.

Return the beef and bacon to the pot. Add salt, pepper, and thyme. Stir gently so everything combines well, then bring the mixture to a gentle simmer.

Reduce heat to low and cover the pot. Let it cook slowly for about two hours. Stir occasionally as the beef becomes tender and the sauce thickens beautifully.

In a separate pan, melt butter and cook sliced mushrooms until golden. This keeps them firm and flavorful. Add the mushrooms to the stew near the end.

Taste the stew and adjust seasoning if needed. Sprinkle fresh parsley on top before serving. The dish should look rich, glossy, and smell warm and comforting.