... quite some gross, glaring and the circumstances and developments of actual actions on the ground falsifying oversimplification.
The records of OTL - written by the austrians as well as heavily pro serbian leaning authors - decribe the serbian victories for August (
Battle of Cer) as well as November/Dezember 1914 (
Battle of Kolubara) as won at a hair's breadth only.
- ITTL only parts of the 2. Army - contrary to what was planned for the war against Serbia only - took part in the above mentioned fighhts esp. the "1. invasion" from 12th August to 30th August; precisely the 29th Div. of IX.Corps and the IV.Corps with 31st and 32nd Divs. (and these also only very reluctantly granted for a very short time [entrained for Galicia on 30th-31st August] with a damn awfull lot of operations disturbing austrian infighting for command from division level up to Supreme Command).
- The rest of IX.Corps and VII.Corps were already entraining again for their transport towards Galicia.
Without the russian ... distraction of the austrian attack on Serbia the whole of the 2. Army would have taken part :
- at, in and past the Macva additional 10th Cav.div and 23rd Honved Div. left of 21st Div. of 5th Army against serbian Kav.Div. cutting of almost all of serbian 2nd Army on the Cer
- serbian 1st Armys Su.I Div and 3rd calls tier troops ... questionable if deployed against Sabac (austrian IV.Corps two divisions) when austrian VII.Corps would go on the offense against Belgrad instead oh 'only' making a show until their transport towards Galicia from 23rd/24th August.
IMHO such an alternative "1st invasion" might not have finished Serbia completly off but ... almost :
serbian 2.Army would have been utterly deicimated,at least Cav.Div. and likely also kombined Div. on the Cer would be left almost non-existant
while serbian Ma.I and Ti.I divisions might have been withdrawn with 'only' heavy losses and in time.
...otherwise they would have been slaughtered from their back by austrian IX.Corps with still existant and ITTL much more encouraged austrian VII.Corps in front.
The wished for aim - taking of Valjevo - would very likely still not happen in this 1st campaign, but as likely the austrians would hold all of the Macva probably also occupying the ranges above the Vukodraz river, possible also Draginje, maybe even the northern ranges of the Tamnave valley. Boranja Planina, the tomn of Zavlaka maybe also Sokalska Planina will be hold if also the town of Osecina ...
However the positions for the austrians for their 2nd onslaught would be MUCH better than IOTL when they managed to fight their way from the most northern turn of the Save to about 10-15 kilometers southeast of the Kolumbara (3rd.Dec.1914) with 'only' 29th Div, upfilled 7th Div. and a hotchpotch of 2nd and 3rd tier troops called "Combined Corps" at hands of the 5.Army instead of the whole 2. Army.
I would render it very likely that ITTL after the serbian army becomming toast in September/October, November the latest in early December the lower valley of the Morava up to Adzbegovac, the southern ranges of river Jasenica if not up to Kragujevac and the upper valley of the western Morava up to Cacak if not Kraljevo and from there to the montenegrine border near Nova Varos or even Sjenica are safely in austrian hands.
With the serbian Army very likely even more in shambles than OTL and on continous retreat it seems also likely to me that before New Years eve, mave even before X-mas the bulgarian leadership might now almost RUN to join the CP for ensuring their share of the cake before it's too late. ... though ITTL not truly needed anymore.
Here's a map of OTL condition in midth to late August
View attachment 706905
... but maybe helpfull for following my deliberations above as well. ;-)
edit :
With "ITTL" I mean the by Belisarius II proposed non-aggression of - at least - Russia