Try making sure you have a space between the two command line switches
bmp2c-escher3d.exe myimage.bmp myimage.bin -b -c
and not -b-c.
I have successfully converted a 1126kb 24 bit bmp file to a 106kb bin. My firmware bin after the binary copy is 224kb. The bmp file needs to have large blocks of colour. Too much detail will not convert successfully.
I presume you are following the instructions on github for the PanelDue firmware.