Directed by

Sebastián Borensztein
Made by

K & S Films
Read the complete plot summary and ending explained for Heroic Losers (2019). From turning points to emotional moments, uncover what really happened and why it matters.
Follow the complete movie timeline of Heroic Losers (2019) with every major event in chronological order. Great for understanding complex plots and story progression.
Plan to reopen the agricultural cooperative
Fermín Perlassi, his wife Lidia, and their ally Antonio Fontana propose reopening the bankrupt agricultural cooperative. They estimate that about 300,000 dollars are needed to cover initial costs and recruit local supporters to chip in. Rolo Belaúnde, the Gómez brothers, Medina, and Carmen Lorgio pledge contributions, signaling a town-wide effort to revive the venture.
Seed money collected and deposited
The group accumulates 158,653 dollars in seed money and Fermín deposits the funds in the bank vault in Villagrán as the starting capital. The deposit marks a concrete step toward financing the cooperative's reopening but leaves a large funding gap. Tension rises as the remaining investment gap remains.
Bank manager's manipulation
A few days after the deposit, Alvarado, the bank manager, summons Fermín and manipulates him into depositing the money into his own account. Fermín complies, trusting the bank as he heads back toward Alsina. The betrayal foreshadows a larger financial storm.
Currency crisis and fraud revealed
Shortly after, the government freezes every dollar-denominated account in Argentina. Alvarado's prior actions gain him leverage as Fortunato Manzi converts a loan to dollars and withdraws all of Fermín's deposited funds. The stolen money vanishes from Fermín's control.
The accident and loss
Fermín and Lidia confront Alvarado, but their appeals go nowhere. On the return trip, their car is run off the road by a truck, leading to Lidia's death and Fermín's serious injuries. The tragedy marks a turning point for the community and Fermín personally.
A year later: planning to reclaim the funds
One year later, Manzi hires a construction worker to dig a 9-square-meter hole in a rural area, convinced it will serve as a burial vault for the dollars. Belaúnde, Fontana, Fermín, his son Rodrigo, Medina, the Gómez brothers, Carmen, and her son Hernán reunite and decide to crack the vault. Their plan is fueled by desperation and the desire to restart the cooperative.
The alarm around the vault
Manzi has installed an impenetrable alarm device around the vault, and the group revisits a scene from How to Steal a Million for inspiration. The crew tests the system and grows more confident that the vault can be breached. Tension builds as the security features prove formidable.
Power manipulation begins
Fermín and Fontana map the local power lines and install a junction box to manipulate the electrical supply. They repeatedly cut and restore power to trigger the alarm multiple times a day, wearing down the system. Manzi eventually disconnects the battery, hoping to neutralize the alarms during the break-in.
Florencia discovers Rodrigo’s deception
Florencia, Manzi's secretary, realizes Rodrigo is not a gardener. She confronts him, and Rodrigo confesses their plans to her, aided by her distrust of Manzi. Trust rekindles among the group as they decide to press on with the plan despite the risk.
The heist night
That night, Belaúnde and Medina destroy the local power generator to plunge the area into blackout. Fermín, Rodrigo, and Hernán break into the vault as the lights fail, and they retrieve the money. Manzi arrives, but his car gets stuck in a mud barricade laid by Fontana, forcing him to retreat as the group escapes with the cash.
The immediate aftermath
The next day, Fermín consoles Carmen as Hernán has fled with nearly two million dollars. The group decides to use the windfall to reopen the cooperative, promising a better life for Alsina's residents. The town begins to sense a new chapter on the horizon.
New beginnings and personal ties
Rodrigo and Florencia marry, cementing their role in the scheme's aftermath. Fermín also experiences a personal milestone as he welcomes a grandchild, signaling a fragile but hopeful future for the town. The cooperative's reopening marks a tangible, if uneasy, victory.
Mid-credits: a petty payoff
In the mid-credits scene, Manzi arrives at Fontana's auto shop with a flat tire. Fontana delivers a crude prank by rubbing a mate bombilla against his crotch and offering it to Manzi to drink as the tire is swapped, underscoring their hard-edged cat-and-mouse dynamic.
Explore all characters from Heroic Losers (2019). Get detailed profiles with their roles, arcs, and key relationships explained.
Fermín Perlassi (Ricardo Darín)
Fermín is the pragmatic planner who drives the cooperative comeback. He rallies neighbors, weighs risks, and keeps the group focused on a shared future despite mounting danger. His leadership is tested as financial betrayal and a perilous heist loom over the town. He embodies a practical optimism that community welfare can prevail through calculated action.
Lidia Perlassi (Verónica Llinás)
Lidia is Fermín's partner, sharing the dream of a better life for their town. She bears personal risk and endures the emotional blow when trust in money and institutions falters. Her resilience anchors the group through tragedy and uncertainty. She represents loyalty and steadfast hope for the community.
Antonio Fontana (Luis Brandoni)
Fontana is a steady ally who contributes practical, hands-on support to the plan. He leverages his experience in the local economy to keep morale up and navigate dangers. He faces moral choices as the scheme tests loyalties and legality. His reliability helps anchor the effort to rebuild Alsina.
Rodrigo Perlassi (Chino Darín)
Rodrigo, Fermín's son, begins as a cautious observer and grows into an active participant. He balances overprotectiveness with curiosity, occasionally posing as a gardener to glean information. His involvement deepens as he witnesses the consequences of desperation. He evolves from skepticism to commitment in defense of his family and town.
Rolo Belaúnde (Daniel Aráoz)
Rolo is a resourceful mechanic whose hands-on skills prove vital to the plan. He keeps a cool head under pressure and improvises technical solutions. His loyalty is tested as risk escalates, but he remains a steadfast ally. He embodies the working-class grit needed to fix what’s broken.
Gómez (Guillermo Jacubowicz)
This Gómez brings grit and blunt practicality to the operation. He works through tension with a direct approach, contributing strength and resilience. His streetwise perspective helps the group navigate dangerous turns. He remains focused on securing a future for the town.
Gómez (Alejandro Gigena)
Alejandro Gigena's Gómez adds a layer of ambition and calculation. He introduces differing views on sharing risk and money, highlighting internal tensions. His presence pushes the plan toward pivotal moments, testing trust within the team. He acts as a foil to Fermín’s steadiness and communal ideal.
Medina (Carlos Belloso)
Medina is an unemployed riparian drawn into the plan by the promise of a better life. His desperation makes him a volatile but essential participant. He contributes to the operation’s practical tasks while amplifying moral strain within the group. His arc reflects how economic pressure can bend ethics.
Carmen Lorgio (Rita Cortese)
Carmen is the owner of the town’s shipping company, bringing capital and a pragmatic view of risk. She weighs loyalty to family against the town’s welfare and becomes a crucial ally in funding the cooperative’s revival. Her involvement tests the group’s solidarity as old grievances surface. She ultimately anchors the effort with business-savvy resolve.
Fortunato Manzi (Andrés Parra)
Manzi is the lawyer who weaponizes credit and fear to profit from others’ vulnerability. He orchestrates the deceit from behind the scenes, exploiting the town’s trust and legal jargon. His manipulation drives the crisis and creates the central conflict. His presence exposes how power and arrogance corrupt legitimacy.
Florencia (Ailín Zaninovich)
Florencia is the secretary who observes Rodrigo’s gardener cover and weighs the truth of the situation. She recognizes the deception and ultimately acts to reveal the scam, driven by a sense of justice and personal history with fraud. Her moral clarity guides others toward a more honest course. She plays a pivotal role in exposing the scheme.
Hernán (Marco Antonio Caponi)
Hernán is Carmen’s ambitious son who seizes the chance to flee with the bulk of the money. He embodies the temptation of easy wealth and the consequences of selfish choices. His escape unsettles the group and underscores the fragility of trust. He acts as a catalyst for the film’s dramatic turn.
Alvarado (Luciano Cazaux)
Alvarado is the bank manager who manipulates the crisis to his own benefit. He leverages insider knowledge to undermine ordinary people and maximize his gain. His corruption exposes the vulnerability of a system under strain. His presence provides a sharp antagonistic force against the cooperative’s revival.
Learn where and when Heroic Losers (2019) takes place. Explore the film’s settings, era, and how they shape the narrative.
Time period
August 2001
The story unfolds during the height of Argentina's 2001 financial crisis. A government move to freeze U.S.-dollar-denominated accounts upends savings and erodes trust in institutions. In this tense climate, a scheme to recover money becomes a lifeline for the town, but also a gateway to danger and moral compromise.
Location
Villa Alsina, Argentina
Villa Alsina is a small provincial town in Argentina where the plan to relaunch a cooperative unfolds. The local economy is strained, pressing residents—mechanics, shopkeepers and laborers—into a desperate search for stability. The close-knit community becomes both a source of support and a pressure cooker for risky decisions.
Discover the main themes in Heroic Losers (2019). Analyze the deeper meanings, emotional layers, and social commentary behind the film.
💰
Greed vs Community
Greed and communal welfare pull the same group of neighbors in opposite directions. The cooperative dream starts as a beacon of collective uplift but the lure of recovered funds tempts individuals to bend rules. The plan tests moral boundaries as risk and opportunity intertwine. The film suggests resilience comes from solidarity, but only if trust endures.
🗝️
Deception & Risk
Characters devise intricate misdirections to outsmart a system rigged against them. They study alarms, exploit outages, and improvise to reach the safe, relying on timing and coordination. The plot hinges on collapsible loyalties and the ethics of how far one should go for a dream. Deception is a tool and a toxin, shaping relationships as the stakes rise.
🤝
Solidarity & Hope
Despite tension and betrayal, the group channels their efforts toward reopening the cooperative for the town. The narrative emphasizes mutual aid, shared risk, and a stubborn hope for a better future. Resilience emerges from collaboration, even when individuals doubt each other. The conclusion reinforces that community progress rests on collective action.

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