The European Financial Reporting Advisory Group (EFRAG) published an updated VSME Digital Template and XBRL Taxonomy for SMEs’ sustainability reporting, reflecting the European Commission’s VSME Recommendation and related minor changes. The update also introduces a translation feature enabling multi-language use and Inline XBRL report generation. The VSME Digital Template and the Digital Template to XBRL Converter now support Spanish, Polish, Lithuanian and Portuguese, in addition to English, with translations prepared by EFRAG and reviewed by National Standard Setters. The release also implements additional enhancements and fixes, and EFRAG has made available the template, explanatory notes, a detailed change log, and source code and demo files on the VSME Digital Template and XBRL Taxonomy webpage. Translations being finalised by National Standard Setters in Germany and Austria, the Netherlands, Denmark, Ireland, France and Italy are expected to be published in a new release planned for the beginning of November 2025. EFRAG and the European Commission are also due to present digital solutions for SMEs at a VSME outreach event on 6 October 2025.
European Financial Reporting Advisory Group 2025-10-03
European Financial Reporting Advisory Group updates VSME digital template and XBRL taxonomy and adds four new reporting languages
EFRAG updated the VSME Digital Template and XBRL Taxonomy for SMEs’ sustainability reporting, incorporating the European Commission’s VSME Recommendation and minor changes. The update includes a translation feature for multi-language use and Inline XBRL report generation, supporting Spanish, Polish, Lithuanian, and Portuguese. Additional enhancements and fixes have been implemented, with further translations expected in November 2025.