Pat the beef dry, season with salt and pepper. In a heavy-bottomed pot, brown the meat in olive oil. Remove the meat and set it aside. In the same pot, add the bacon and cook until crispy. Remove it as well.
In the bacon fat, sauté the sliced onions until they soften and begin to caramelize. Sprinkle with flour, stir, and cook for a minute. Return the meat and bacon to the pot.
Pour the dark beer over everything. Add the thyme and bay leaf. Spread the mustard on the bread slice and place it mustard-side down on top of the meat. Add the sugar.
Bring to a boil, then reduce the heat to a minimum. Cover the pot and simmer slowly for about 2-3 hours, until the meat is perfectly tender. Stir occasionally.
Once the meat is done, remove the bay leaf. Season with salt and pepper to taste. Serve hot with French fries, mashed potatoes, or fresh bread.