Preheat the oven to 350 degrees Fahrenheit (175 degrees Celsius).
In a large mixing bowl, combine the breadcrumbs and milk and allow to soak for 5 minutes to form a panade.
Add the ground beef, beaten eggs, minced onion, minced garlic, 1/2 cup ketchup, salt, pepper, and thyme to the bowl.
Mix the ingredients by hand until just combined, ensuring not to overwork the meat which can lead to a dense texture.
Transfer the mixture to a 9x5 inch loaf pan or shape into a rectangular loaf on a parchment-lined baking sheet.
In a separate small bowl, whisk together the remaining 1/2 cup ketchup, brown sugar, and Dijon mustard until smooth.
Spread the brown sugar glaze evenly over the top surface of the meatloaf.
Bake for 60 minutes or until the internal temperature reaches 160 degrees Fahrenheit (71 degrees Celsius) using an instant-read thermometer.
Remove from the oven and allow the meatloaf to rest for 10 minutes before slicing to ensure the juices redistribute.