Yes.
Let's consider /29
which is equal to 255.255.255.248
that is 11111111.11111111.11111111.11111000
in binary representation where 11111111.11111111.11111111.11111
is the network section and 000
is the hosts section.
Therefore the following is possible.
(I've separated the hosts section with a space in the binary representation)
Sub net mask
=============
<-------- network section------><-hosts->
11111111.11111111.11111111.11111 000
Network A available IPs: 192.168.0.0/29
========================================
11000000.10101000.00000000.00000 000 (reserved) - 192.168.0.0
11000000.10101000.00000000.00000 001 - 192.168.0.1
11000000.10101000.00000000.00000 010 - 192.168.0.2
11000000.10101000.00000000.00000 011 - 192.168.0.3
11000000.10101000.00000000.00000 100 - 192.168.0.4
11000000.10101000.00000000.00000 101 - 192.168.0.5
11000000.10101000.00000000.00000 110 - 192.168.0.6
11000000.10101000.00000000.00000 111 (reserved) - 192.168.0.7
Network B available IPs: 192.168.0.8/29
========================================
11000000.10101000.00000000.00001 000 (reserved) - 192.168.0.8
11000000.10101000.00000000.00001 001 - 192.168.0.9
11000000.10101000.00000000.00001 010 - 192.168.0.10
11000000.10101000.00000000.00001 011 - 192.168.0.11
11000000.10101000.00000000.00001 100 - 192.168.0.12
11000000.10101000.00000000.00001 101 - 192.168.0.13
11000000.10101000.00000000.00001 110 - 192.168.0.14
11000000.10101000.00000000.00001 111 (reserved) - 192.168.0.15