Combine beef stew meat, water, and beef bouillon in a pot; bring to a boil. Boil until tender, 45 to 60 minutes.
Heat olive oil in a large pot over medium-high heat. Saute onion and garlic until onion is translucent, about 5 minutes. Add paprika, salt, and pepper. Add tomatoes; bring to a boil and cook until tender, about 5 minutes. Add the boiled beef and all but 1/2 cup of the broth.
Heat remaining olive oil in a skillet over medium-high heat. Add potatoes; cook and stir until browned, 5 to 7 minutes. Add to the beef mixture. Add carrots, peas, and red bell pepper. Saute until vegetables are tender, about 5 minutes.
Mix liver spread, vinegar, sugar, and reserved beef broth together in a bowl. Pour mixture into the pot with the beef; add the sauteed vegetables. Mix and continue cooking until flavors combine, about 5 minutes more.