Verifying the reasoning of large language models is increasingly important as they are applied to complex mathematical and scientific problems. Existing work focuses on large decoder models and reports mixed results for generative and discriminative verifiers, leaving unclear which paradigm is more effective and whether large models are necessary. In this work, we cast stepwise verification as a natural language inference task: the problem and partial solution prefix form the premise, while the next reasoning step serves as the hypothesis to be classified as entailed or non-entailed. This formulation enables error localisation at individual reasoning steps and direct comparison of encoder classification, decoder classification, and decoder verdict generation across model scales and annotation budgets. Across five reasoning datasets, a 0.15B encoder classifier outperforms most generative verifiers with up to 4B parameters. On identical decoder backbones, classification outperforms generation from 0.5B to 4B parameters and matches it on the strongest 7B backbone---reaching comparable performance with roughly one tenth as many annotated problems. Our findings establish classification as a parameter- and data-efficient approach to stepwise verification and show that strong verification does not require large generative decoders.

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