Well the French gained Cameroon and parts of Togo, didn't they??
My assesment of the situation is that both side probably consider themselves losers. In Germany the democratic government is trying to create the story of "how democracy was won", not how the war was won, since they then would have to explain the loss of several colonies. I think some kind of national sentiment still is in place in Germany, and there are those who think the war still is unfinished business. German democracy in the future is not certain at all.
In France the new military government would have to justify it's existence. My feeling is that they try to capitalize on the fact that Alsace- Lorraine is still lost, Germany still a big threat to France and the "story about the foreign threat" could be used to minimize the anti- government sentiments in France and establish an artificial national unity.
In Russia the government is weak. They are trying to control a vaste nation that is harder to control every day. I wouldn't be surprised if there's an deadlocked duma. Several clashes between the traditional elite and the new Center- Left duma. Anger in the military over how things turned out. Several strikes by Bolsheviks, Mensheviks or Social Revolutionaries every time they're upset about some minor detail in government policies. Combine this with a growing national awakening slowly appearing in the Ukraine, in Belarus, in the Caucasus and in Turkestan. In the shape Russia is like at the moment they couldn't fight anyone, but that might change.
Austria- Hungary is probably one of the most defunct nations in Europe. Federalization has probably created serious conflicts between the Vienna central government and the regional parliaments in Lvov, Vienna, Prague, Zagreb and Budapest. Meanwhile ethnic groups that were ignored earlier are demanding self rule, which Austrian Germans, Croats or Magyars are seriously unwilling to give them. Also the difference in the empire probably would become clear. In Austria and Bohemia liberalism and socialism are probably making gains, while Hungary and Croatia keep being dominated by the old nobility. Galizia- Bukovina is a special case. The Polish nobles of East Galizia probably look towards Poland, while the German burghers looks toward Vienna for support. The Romanians of Bukovina still hope that a victorious Romania will appear, while the large mass of Ukrainians are on one hand hoping for support from Vienna, but on the other hoping for a Ukrainian nation to appear, either as independent or as a self ruling area in Russia.
Italy is the nation that probably feel the war was the worst fiasco. They can definitely rule themselves as a loser. Trieste, Trento, South Triol, Gorizia, Fiume, Dalmatia etc. are still in the hands of the Habsburgs, and the Italian nation will have a hard time surviving as a democracy. Both the left and the right ought to be quite angry there.