VSME is the voluntary standard published by EFRAG for small and medium companies that are not required to report but are being asked to. It replaces the guesswork of assembling a report from a framework designed for listed multinationals.
It comes in two parts. The Basic Module is the set most buyers and banks ask for. The Comprehensive Module adds the detail a larger customer or a lender running a due-diligence questionnaire will want.
Because the standard names its disclosures, a report built on it can be checked. Every code below appears in your report's disclosure index against the page it is answered on, or against a stated reason it was omitted.
VSME's climate and governance disclosures cover much of what IFRS S1 and S2 ask for, so answers carry over if you are later brought into scope.
Answers the first request from a buyer, a bank or a tender portal.
Answers the follow-up questionnaire that arrives after they have read it.
Most frameworks assume a sustainability team and a materiality process. VSME assumes neither, and names the disclosures instead.
Buyer and bank questionnaires increasingly borrow their questions from it, so a VSME report tends to answer them before they are asked.
Because the disclosures are enumerated, a reviewer can hold your report against the standard line by line. That is what the index is for.
You are not required to answer everything in year one. A stated omission with a reason reads better than a guessed figure.
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