VS (VSME) Reporting Template & Excel Guide: The Practical SME Blueprint

For small and medium-sized enterprises (SMEs) across Europe, sustainability reporting was once considered an enterprise concern limited to multinational corporations.

However, under the Corporate Sustainability Reporting Directive (CSRD), large Tier-1 buyers, industrial conglomerates, and commercial banks are legally mandated to audit their supply chains. As a result, non-listed SMEs are bombarded with confusing, redundant ESG questionnaires, EcoVadis requests, and tender compliance mandates.

To shield SMEs from questionnaire chaos, the European Financial Reporting Advisory Group (EFRAG) developed the Voluntary European Sustainability Reporting Standard for Non-Listed SMEs, officially known as VS (VSME).

Whether you are downloading an Excel template or configuring an automated software wizard, here is your definitive operational guide to conquering the VS (VSME) standard in 2026.

The 3 Modules of the VS (VSME) Standard

The VS (VSME) architecture is strictly modular. Small companies can begin with the Basic Module and expand only when required by corporate buyers or financing partners:

                          ┌──────────────────────────────────────┐
                          │   The Modular VS (VSME) Architecture │
                          └──────────────────┬───────────────────┘
                                             │
         ┌───────────────────────────────────┼───────────────────────────────────┐
         │                                   │                                   │
   MODULE 1: BASIC                    MODULE 2: NARRATIVE                 MODULE 3: BUSINESS PARTNERS
   (Disclosures B1–B11)               (Disclosures N1–N5)                 (Disclosures BP1–BP11)
   ────────────────────               ───────────────────                 ───────────────────────────
   • Core entry requirement           • Qualitative context               • Advanced supply chain data
   • Scope 1 & 2 GHG emissions        • Sustainability strategy           • Scope 3 calculations
   • Energy consumption (MWh)         • Material risks & opportunities    • Human rights due diligence
   • Headcount & injury rates         • Business conduct & governance     • Water & biodiversity metrics

Module 1: The Basic Module (Disclosures B1 to B11)

The Basic Module is the universal baseline. It requires zero materiality assessments and consists entirely of accessible operational metrics:

• B1 & B2: Basis of preparation and enterprise activity characteristics.
• B3 & B4: Energy consumption and Scope 1 and Scope 2 greenhouse gas emissions (GHG Protocol).
• B5 to B8: Pollution, water usage, biodiversity sensitivity, and circular economy waste volumes.
• B9 & B10: Own workforce headcounts, gender breakdown, collective bargaining coverage, and occupational safety incidents.
• B11: Convictions and fines for corruption or bribery.

Module 2: The Narrative Module (Disclosures N1 to N5)

For companies wishing to provide qualitative context to their board or prospective investors:

• Explains how sustainability aligns with the core business model.
• Outlines commitments to carbon reduction and social policies.

Module 3: The Business Partners Module (Disclosures BP1 to BP11)

Designed specifically to satisfy procurement directors at large corporate customers:

• Captures Scope 3 supply chain greenhouse gas emissions.
• Documents human rights due diligence and supplier codes of conduct.

Excel Spreadsheets vs. Automated Wizard: The True Cost

Many finance and HSEQ leaders initially attempt to complete the VS (VSME) template in Microsoft Excel using the raw spreadsheet provided by standard setters.

While Excel feels "free," it quickly becomes one of the most expensive ways to report:

How to Satisfy EcoVadis and Bank Tenders Using VS (VSME)

One of the greatest advantages of completing a verified VS (VSME) disclosure is that it handles multiple compliance burdens simultaneously:

1. EcoVadis Scorecard Alignment:
   Over 70% of the questions in the EcoVadis Environment and Labor & Human Rights pillars directly match VS (VSME) disclosures (such as B3 emissions, B10 health & safety, and N4 policies).
2. Bank Financing & Green Loans:
   European commercial banks increasingly require sustainability data before approving equipment financing or credit facility terms. Exporting a verified VS (VSME) XBRL report fulfills standard banking ESG questionnaires instantly.
3. Public & Private Tenders:
   Public procurement contracts in the Nordics and DACH regions now allocate up to 20% to 50% of decision weight to sustainability verification. Submitting a verified VS (VSME) document gives SMEs an immediate competitive edge over non-reporting rivals.

3 Simple Steps to Build Your Free VS (VSME) Report Today

1. Gather 3 Essential Documents:
   Locate your past 12 months of electricity bills (kWh), fleet fuel expenditure (liters or fuel card journals), and payroll employee headcounts.
2. Access the Free Online Wizard:
   Avoid confusing spreadsheets. Navigate to ExecutESG's Free VS (VSME) Portal and sign up with your work email in under 30 seconds.
3. Download Your Audit-Ready Report:
   Input your numbers into the guided step-by-step wizard. Within 15 minutes, download your official, verified VS (VSME) report ready to share with customers, auditors, and banks.

Start Your VS (VSME) Journey

Stop wasting weeks on manual spreadsheets. Explore our dedicated VS (VSME) Reporting Template & Guidance Center or register your free account on ExecutESG today.