In this scenario, are you permitted to overtake the bicycle?

Yes. The recording shows a dual carriageway (a bridge) with double solid lines in the middle and a cyclist riding on the right side of the carriageway. The B-25 'no overtaking' sign is also visible, but this ban does not cover overtaking single-track vehicles such as a bicycle. You must, however, keep a side clearance of at least 1 m under art. 24 para. 2.