STM32 timer delay - assembler

Dear ARM-Community,

I need help on my timer implementation. I want to let the LED flash with 1Hz on my STM32F0-Nucleo with an 48MHz internal clock.

My C code is working perfectly:

Here is my assembler code, which does not work 100%:

I tested the LED already with a simple loop, that worked. All the vectors are also set correctly! But now, even though I set the right values, the delay is not working correctly.

I guess it has strangely to do something with the ARR, because I can change the f with it.

I have no clue what is wrong here. Can somebody help me?

Thank you!

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