EFRAG VSME Excel Template vs QuickVSME: Which Should You Use?

What Is the EFRAG VSME Excel Template?

In July 2025, EFRAG published the Voluntary Sustainability Reporting Standard for SMEs (VSME). Alongside the standard itself, they released a digital reporting template in Excel/XBRL format: the VSME Digital Template 1.0.0.

This Excel file is the official way to fill out and submit a VSME Basic Module report. It is free, it comes directly from the standard-setting body, and it maps every datapoint to the correct XBRL taxonomy. If you are an SME that has been asked by a customer, bank, or investor for sustainability data, this template is where most people start.

The template covers approximately 46 datapoints across 11 sections (B1 through B11): company identification, energy and emissions, water, waste, workforce demographics, health and safety, remuneration, and governance. Of these, 27 are mandatory, 15 are conditional, and 4 are voluntary.

What Does Filling Out the Excel Template Actually Look Like?

Downloading the file is easy. Filling it out is where things get complicated.

When you open the VSME Digital Template, you will find a structured spreadsheet with XBRL-tagged columns. Each row corresponds to a disclosure requirement from the standard. The cells expect specific data types: numbers, dates, yes/no booleans, or free-text narratives. There is minimal in-cell guidance. If you do not already know what a "NACE code" is or what "Scope 2 GHG emissions" means, the spreadsheet will not explain it to you.

Here is what the experience typically involves:

Step 1: Understand the structure. The template has multiple sheets. You need to figure out which sheets apply to the Basic Module versus the Comprehensive Module. There is no obvious signposting for first-time users.

Step 2: Gather your data. You will need energy bills (electricity in kWh, heating oil in litres, natural gas in kWh), fleet fuel receipts, water bills, waste disposal records, HR headcount figures, accident logs, and training records. None of this is unusual, but the template does not tell you where to find it.

Step 3: Look up emission factors. This is where most SMEs get stuck. The template requires you to report Scope 1 and Scope 2 greenhouse gas emissions in tonnes of CO2 equivalent (tCO2e). It does not calculate them for you. You need to find the correct emission factors for your country and energy sources, then multiply your consumption data by those factors manually.

For Swiss companies, the standard reference is the KBOB lifecycle data (version 8.02, 2009/1:2022). For electricity, that is 0.128 kg CO2e per kWh. For heating oil, 3.24 kg CO2e per litre. For natural gas, 0.228 kg CO2e per kWh. You need to know these numbers exist, find the right version of the dataset, locate the correct row in the KBOB table, and apply the factor correctly.

Step 4: Enter the data. With factors in hand, you enter values into the appropriate cells. There is no built-in validation. If you accidentally enter electricity in MWh instead of kWh, or mix up litres and cubic metres, the spreadsheet will accept it without complaint.

Step 5: Export or submit. The completed file can be saved as Excel or exported in XBRL format for digital submission. The output is a spreadsheet, not a formatted report.

For someone with XBRL experience or a background in corporate reporting, this process is manageable. For a 15-person manufacturing company doing sustainability reporting for the first time, it is genuinely difficult. Based on user feedback and testing, first-time completion typically takes 2 to 4 hours — assuming you already have your source data collected.

What Does QuickVSME Do Differently?

QuickVSME is a web-based tool that translates the same VSME Basic Module into a guided 4-step wizard. It covers the identical 46 datapoints but changes the experience of filling them out.

Guided input instead of raw cells. Each field includes a plain-language explanation of what is being asked, why it matters, and what unit is expected. If a field is conditional (only required if applicable to your business), QuickVSME tells you so and lets you skip it.

Automatic GHG calculation. You enter your energy consumption in the units you already have (kWh of electricity, litres of heating oil, litres of diesel). QuickVSME applies the correct KBOB 2022 v8.0 emission factors automatically and calculates your Scope 1, Scope 2, and GHG intensity ratio. No manual factor lookup required.

Built-in validation. If your hazardous waste plus non-hazardous waste does not equal total waste, QuickVSME flags the error before you can proceed. If your recycled waste exceeds your total waste, you will see a warning. The Excel template lets these errors through silently.

Evidence upload. For each section, you can upload supporting documents (energy bills, waste disposal receipts, HR records) directly in the tool. These are stored in a secure evidence vault linked to your declaration. If an auditor or supply chain partner asks for proof, you have it in one place.

PDF output in 4 languages. The finished declaration is exported as a formatted PDF report, ready to send to whoever requested it. QuickVSME supports German, English, French, and Italian — so a Swiss SME with a French-speaking supply chain partner can generate the report in the appropriate language.

Completion time: under 60 minutes with source data at hand, compared to 2-4 hours for the Excel template.

Side-by-Side Comparison

When Is the Excel Template the Right Choice?

The EFRAG template is the right tool in several scenarios:

• You have XBRL experience. If your team already works with structured reporting taxonomies, the template will feel familiar and the XBRL output may be exactly what you need.
• You need maximum control over formatting. The Excel file is fully editable. You can add custom sheets, notes, or additional context that a guided tool might not accommodate.
• You want to integrate with existing reporting workflows. If your company already has an Excel-based data collection process, adding the VSME template to that workflow may be simpler than introducing a new tool.
• Budget is zero. The template is free. If CHF 49 is not in the budget, the template gets the job done.
• You are a consultant preparing reports for multiple clients and need to customise the structure for each engagement.

The template is a legitimate, well-structured tool. It was designed by the same body that wrote the standard. For experienced reporters, it is efficient and complete.

When Is QuickVSME the Right Choice?

QuickVSME is built for a different user profile:

• You are reporting for the first time. If terms like "Scope 2 emissions" and "GHG intensity ratio" are new to you, the guided explanations save significant time and reduce the risk of errors.
• You do not have emission factors memorised. Most SME owners do not. QuickVSME applies KBOB factors automatically so you do not need to look them up, verify the version, or risk using outdated numbers.
• You want it done in under an hour. With your energy bills and HR data at hand, the wizard walks you through every field in sequence. No jumping between sheets or searching for the right cell.
• You need a presentable output. A formatted PDF in the recipient's language is more professional than forwarding a raw spreadsheet.
• You want evidence attached to the report. If your supply chain partner or bank may ask for supporting documents, having them linked to the declaration saves a second round of back-and-forth.
• You are a Swiss SME. The KBOB emission factors and CHF-denominated interface are designed for the Swiss context specifically.

The Hidden Cost of "Free"

The Excel template costs nothing to download. But it is not free to use.

A conservative estimate for a first-time reporter: 3 hours of the business owner's time to understand the structure, look up emission factors, enter data, cross-check calculations, and format the output. At a modest opportunity cost of CHF 80 per hour, that is CHF 240 of time spent.

Beyond time, there is the risk of calculation errors. Applying the wrong emission factor, using an outdated KBOB version, or misplacing a decimal point can produce a declaration that is technically incorrect. If that declaration is shared with a supply chain partner conducting due diligence, an error undermines credibility.

There is also no audit trail. If someone asks six months later how you calculated your Scope 1 figure, you are relying on your memory and whatever notes you kept alongside the spreadsheet.

QuickVSME costs CHF 49. That covers the guided wizard, automatic calculations with verified emission factors, validation, evidence storage, and a formatted PDF. For most SMEs, the time savings alone justify the cost within the first 30 minutes.

Which Should You Choose?

If you are comfortable with structured reporting, know your emission factors, and want XBRL output, download the EFRAG template and use it. It is a solid tool built by the people who wrote the standard.

If you are a small or medium-sized business filling out a sustainability declaration for the first time and you want to get it right without spending an afternoon on it, QuickVSME is designed for exactly that situation.

Both paths produce a valid VSME Basic Module declaration. The difference is how much of your time it takes to get there.

This article is provided for informational purposes and does not constitute legal or financial advice. For guidance specific to your reporting obligations, consult your auditor or a qualified sustainability advisor.

Sources: EFRAG VSME Standard, KBOB Lifecycle Data, European Commission Recommendation C(2025) 4984