Season the beef chuck cubes with salt and pepper, coat lightly with all-purpose flour. Set aside.

In a Dutch oven, heat olive oil over medium-high heat and brown the beef in batches for 5–7 minutes. Remove and set aside.

In the same pot, add more olive oil if needed and sauté chopped onion, minced garlic, and chopped celery for 3–4 minutes until soft.

Stir in tomato paste and cook for 1 minute. Return the beef to the pot, add broth, thyme, and bay leaf. Bring to a boil.

Reduce heat to low, cover, and simmer for 1 hour.

Add sliced carrots and cubed potatoes. Stir and continue to simmer for 45–60 minutes until tender.

Remove the bay leaf, adjust seasoning if necessary, and serve hot.