Every demon represents a sin. Not all of the seven deadly sins are depicted here.

The king with the scepter and the globe offers him the World and the Power in exchange for his soul.

The one with food represents Gluttony. The one with the money bag represents Avarice or Greed.

The one kneeling and offering Women is the demon of Lust. Demon with sword is Wrath and War.

And Finally the Demon with the Book represents Dark and False Teachings.

Each one of them is trying to possess his soul.