In the paper, an improved smart meter data-based three-stage algorithm to calculate the power/energy losses in the three-phase networks with the voltage level below 0.4 kV (low voltage - LV) is presented. In the first stage, a loading function of input data was built having as main feature the working at the same time with files from the database of smart metering system (SMS) containing the hourly electricity records, and files including the characteristic load profiles established by the Distribution Network Operator (DNO) for the consumers with standard energy meters depending the following factors: consumption class, day and season. In the second stage, a function which is based on the work with the structure vectors was implemented to identify easy the configuration of analysed networks. In the third stage, an improved version of forward/backward sweep-based algorithm was proposed to calculate fast the power/energy losses to three-phase LV distribution networks in balanced and unbalanced regime. A real LV rural distribution network from a pilot zone belonging to a Distribution Network Operator (DNO) from Romania was used to confirm the accuracy of the proposed approach. The comparison with the results obtained using the DigSilent PowerFactory Simulation Package certified the performance of the algorithm, the mean absolute percentage error (MAPE) being 0.94%.