Ox
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There is a 0.01% chance however, that Germany would not enter World War One, they promised to back Austria-Hungary in case of a war, (the .01% chance regards the chance of "since when did a promise stop anything?").
Assuming Germany was as bad as an ally as Italy, and they did not enter World War One on the Central Power's side, the war would probably not be the "Great" war it was. Without Germany to declare war on France, and subsequently use the tactic of invading Belgium to gain a strategic advantage on France, allowing Britain to come into the war, these three major powers in the war would have likely not been involved. The Ottoman Empire would have not entered the war as well, since they were not part of the Triple Alliance, but it was the Turko-German alliance, so without Germany, they would not enter the war. Perhaps Italy would have been faithful in this scenario, and other Balkan countries (Romania, Bulgaria, Montenegro, Greece) just ignoring the war as it had not escalated. This would leave the war at: Central Powers: Austria-Hungary, Italy. Allies: Russia, Serbia. Likely what would happen, is Austria-Hungary would annex Serbia, in exchange for Russia gaining Galizia, the war would likely lead to a stalemate, since A-H would be backed by Italy.
Now, because Russia did not have to deal with Germany and the Ottomans, they would have a lot more military capability, therefore, the October Revolution would probably not be successful, an independent Poland would be highly unlikely, and even more so with Ukraine.
Germany would at this point be tied with Britain as the leading World Power.
Now Italy would probably not become a Fascist state, because they did not have to put as much effort as they did in WW1, and because they would likely be satisfied with the war reparations they were given. There was also no communism to oppose, and no lack of patriotism.
Germany, with no hyper-inflation, and no economic downfall, and no treaty of Versailles, and no participation in World War One, would not become Nazi.
With no fascist movement or influence around the continent, there would be no Spanish civil war.
The breakup of Austria-Hungary would be inevitable, but it would not happen instantly after the war like it did in real life. It would probably lead to an Austro-Hungarian civil war, in which Hungary would win, and declare independence. Austria would then either join Germany, or form a personal union with Germany. Because it was a civil war that lead to Austria-Hungary's breakup, there would be no Czechoslovakia, and no Yugoslavia. Instead they would probably liberate Serbia, also controlling the land of Bosnia, and then maybe Montenegro would join them.
The fall of the Ottoman Empire as well would still happen, but prolonged. There would probably be a Greco-Turkish war, in which Greece would win, annex some land, and the empire would eventually collapse.
The further I go on, it becomes more vague, I don't know how it would affect Europe past this point. I just wanted to throw my two cents in on the topic.
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