You need to consider any source of joule heating in the transformer, plus anything that creates a power factor <1. There are several classes of things you need to consider:
1) Self inductance and power factor (primary), and inductive (excitation current) losses.
2) mutual inductance (coupling efficiency to secondary circuit)
3) Core losses (eddy currents in laminations, hysteresis losses, magnetostriction*)
4) copper winding losses(I2R losses, primary and secondary, also eddy currents in copper)
5) secondary circuit losses (in load).
The overall efficiency is 100 x Pload/Pin, where Pin is measured at the wall plug. Are you talking about joule power (real) or reactive power (volt-amps)?
* If you can hear the transformer or feel vibrations, there are magneotstrictive losses.