Release of the VSME Digital Template, XBRL Taxonomy & Converter

As part of the VSME Ecosystem deliverables, dedicated to companies with less than 250 employees, EFRAG has released the first version of the VSME Digital Template and accompanying VSME XBRL Taxonomy, designed to support the Voluntary Sustainability Reporting Standard for SMEs (VSME) submitted as a technical advice to the European Commission in December 2024.

EFRAG's Digital Template enables a user-friendly and efficient reporting experience. The Digital Template (implemented in MS Excel) features interactive elements, auto-calculations, consistency checks, and direct links to VSME text and guidance. Meanwhile, the XBRL Taxonomy enables seamless, software and vendor-independent digital reporting and data exchange.

To further ease adoption, EFRAG offers a free and open-source Digital Template to XBRL converter, enabling instant transformation of the VSME Digital Template into human and machine-readable formats. It’s available online on EFRAG’s website or for local installation, with full validation and integration capabilities, in order to support the market with the adoption of VSME.

All resources, including the template, explanatory notes, the source code and demo files, are now available for download on the VSME Digital Template and XBRL Taxonomy webpage.

Please note that an update of the VSME Digital Template and XBRL taxonomy may be necessary once the European Commission will release the VSME Recommendation.

Chiara Del Prete, EFRAG SR TEG Chair, stated: “The release of this digital template marks an important step in reducing entry barriers for companies with fewer than 250 employees to report on VSME. It provides a user-friendly template that can be freely embedded into online platforms and reporting systems, so that SMEs do not need XBRL skills to report digitally. EFRAG is committed to providing practical solutions to reduce the reporting burden and facilitate the broadest possible voluntary uptake of simplified reporting, thereby supporting the availability of information that is essential for lenders, investors, and business counterparts to manage their sustainability impacts, risks, and opportunities in their supply chains.”