XF 1.4 Big deal over image on my site that makes small square

Yes looks like a missing file.

Usually on-page 404 errors are logged in the browser console. Press F12 on your keyboard and click on Console. That will tell you the path of the image it is trying to load.
 
It is trying to load an image called logo.png.

That file will need to be uploaded to your FTP. If this is a style which you have purchased or downloaded then you should contact the designer for support.
 
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