A shrine that is activated but not yet completed will not (yet) count for the loading screen counter. If you have found all shrines and the counter still says 119 on the loading screen, then it might be that you didn’t complete one of them yet (happens easily if you save Major Tests of Strength “for later” and then forget about them.)

An additional weirdness is that the shrines from the Champions’ Ballad do NOT increment the loading screen counter, so if your loading screen says 100 shrines and you complete one base game(!) shrine and one DLC shrine, it will say 101 instead of 102 because only the former counts.