In a medium bowl add the beef, bread crumbs, egg, milk, thyme and 1 tablespoon of the ketchup. Mix everything together well. Form the mixture into 4 or 5 thick patties.
In a nonstick skillet, heat the oil over medium heat. Once the oil is hot, add the patties and cook them for about 5 minutes, turning once, until they are well browned.
Remove the cooked meat patties to a warm plate.
Pan fry the mushrooms in the meat drippings. Add flour to the drippings in the pan and stir using a whisk to make sure you don't get lumps. Add water, the remainder of the ketchup and the bouillon cube. Whisk the gravy mixture well so it doesn't get lumpy as it thickens.
Add the meat patties back to the pan. Bring the gravy to a boil and reduce the heat to low.
Cover the pan and cook for 5 to 10 minutes or until the patties are no longer pink in the center, the bouillon cube is dissolved and the sauce is thickened.