I imagine it would be difficult to enforce demands on the British Empire due to the poor performance of German colonial forces.
Would Egypt be ceded to the Ottoman Empire? What about the balkans, would the entire region be partitioned between Austria-Hungary and Bulgaria?
This would largely depend on when the Central powers would win. Do they win after a fast campaign in France in 1914? In that case some easily defendable rich border regions would be ceded to Germany. Some larger lands would be ceded from Russia to Austro-Hungary and Germany. I'd have no idea what would happen in Serbia but it would probably be ruled by a ruler favourable to Austro-Hungary or a puppet. On a world scale primarily France would have to cede some colonies to Germany. As tradition would have it, the losing party would have to pay a handsome sum of money. Understandably, the longer the war progressed the harsher these terms would get.