Film cooling is commonly used to protect turbine vanes and blades from the hot gases produced in the combustion chamber. The design and optimization of these systems can however only be achieved if a precise prediction of the fluid mechanics and film efficiency is guaranteed at a level where induced losses are fully mastered. Such a prerequisite induces at the numerical level to be able to identify and assess losses. In this context, the present study addresses loss assessment in a wall-resolved Large Eddy Simulation (LES) of the film-cooled high-pressure turbine blade cascade T120D from the European project AITEB II. The objectives are twofolds: (1) to evaluate the capacity of LES to predict adiabatic film cooling effectiveness in a mastered academic case; and (2) to investigate loss generation mechanisms in a fully anisothermal configuration. When it comes to LES predictions of T120D, the flow structure around the blade and the coolant jet organization are coherent with literature findings. Satisfactory agreements are furthermore retrieved for the pressure load prediction as well as the adiabatic film effectiveness if compared to the experiment. Loss generation is then investigated illustrating the fact that aerodynamics losses dominate mixing losses which are mainly located in the coolant film. This is in line with the temperature difference between the hot and coolant flows that is low for this experimental condition. Distinct contributions can however be made available by studying the local loss generation maps by means of Second Law Analysis if recast in the specific context of anisothermal flows when simulated by LES.