Matthew 25 and the previous chapter, Matthew 24, are the only two chapters in the four gospels for which Swedenborg offered verse by verse explanations. It's great that we have these, because we get some assurance that the methods that he used in his exegesis of Genesis, Exodus, and Revelation can also be applied to the gospels.

The commentary on Matthew 25 is divided into chunks associated with explanations of chapters in Genesis, in the middle of "Arcana Coelestia". For chapter 25, it starts in Arcana Coelestia 4635-4638. Here's an excerpt from no. 4636:

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"The Lord used this parable to describe His own coming. This is clear from every detail in it as well as from the final sentence where He says, 'Watch therefore, for you do not know the day, nor the hour, in which the Son of Man will be coming' - words similar to those used in Chapter 24.... It has been shown already that His coming is the close of the age or the final period of the Church."

Next, in Arcana Coelestia 4637, there's a strong clear attestation to the power and importance of the internal sense of the Word:

"Consequently anyone who does not know this cannot make anything else out of the Lord's parables than ordinary comparisons which hold nothing deeper within them, as with this particular parable concerning the ten virgins. He makes nothing more out of it if he does not know what 'virgins' means in the internal sense, and also what ten, five, lamps, vessels, oil, those who sell, a wedding feast, and every other detail mean. And the same is true with all other parables. As has been stated, the details mentioned by the Lord in them look, in the outward form they take, like ordinary comparisons, but in their internal form their nature is such that they fill the whole of heaven. This is because the internal sense is contained within every detail, and that sense is such that its spiritual and celestial content spreads like light and flame throughout the heavens in all directions. That sense is utterly superior to the sense of the letter, flowing from every phrase and every word, indeed from every tiny letter."

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(Swedenborg's exegesis of the chapter continues in 4662-4664, 4807-4810, 4954-4959, and 5063-5071. It's well worth the read!)

Also, we'll append the commentary on this chapter that Rev. John Clowes wrote back in the 1850's:

Verses 1, 2, 3, 4. That in the last time of the old church and the first of the now, they who are of the church will receive spiritual truths, and some will be in truths wherein is the good of love and charity, and some in truths wherein is no good of love and charity.

Verse 5. That by reason of delay, they will be sluggish in the things of the church, and will cherish doubt.

Verse 6. But that at the last time of the old church and the first of the new, there will be a change, for then will be the judgement, namely, acceptance and rejection.

Verses 7, 8. And then all will prepare themselves, and they who are in truths without the good of love and charity will be willing to have good communicated from others to their empty truths.

Verse 9. But this is impossible, since no good can then be communicated but the good of merit.

Verse 10. Wherefore the application is preposterous, because none can be received into heaven but those who are principled in good and thence in truth.

Verse 11. Nevertheless, they who are in truths without good, are willing to enter from faith alone without charity, and from works in which is no life of the Lord, but only the life of self.

Verse 12. But they are rejected, because they are not in any charity towards their neighbour, nor by it in conjunction with the Lord.

Verse 13. Therefore the life ought to be regulated according to the precepts of faith, because the time of acceptance, and the state, is unknown to man.

Verses 14, 15. For the Lord gives to all who are in the church the knowledges of truth and good from the Word, with the faculty of perceiving them.

Verses 16, 17, 18. And by these knowledges and this faculty, some procure to themselves much intelligence and wisdom, and others procure some, and others none.

Verses 19-23. Wherefore at the Lord's coming, they who had procured much intelligence and wisdom, and they who had procured some, are accepted of the Lord, and gifted by Him with dominion over all evils and falsities, and admitted to conjunction of life with Himsel

Verses 24-31. But they who had procured none are then deprived of the truths which they had possessed in the memory only, and not in the life, and become principled in mere falsities separated from all good and truth.

Verses 24, 25. For not having joined charity to faith, they think harshly of the Divine Mercy, and act from mere natural fear, which obscures the knowledges of heavenly truth.

Verses 26, 27. Whereas they ought rather, by those knowledges, to have procured to themselves charity, and thus have attained conjunction of life with the Lord.

Verses 28, 29. Therefore those knowledges are taken away from them, and conferred on those who apply them to the reformation of their lives.

Verse 30. And they who have lived in faith alone without charity, are deprived of all the truths of faith, and all the goods of charity, having their lot with those who are in mere evils and falsities.

Verse 31. For when Divine Truth shall appear in its light, through the angelic heaven, then shall be the judgement.

Verse 32. And then shall the goods and evils of all be made manifest in the Light Divine, and there shall be a separation of what is good from what is evil, or of those who are in charity and thence in faith, from those who are in faith alone, and not in charity.

Verse 33. And this separation will be according to truths derived from good with the good, and according to falsities derived from evil with the evil, thus every one will be arranged according to his life.

Verse 34. Then shall they who are in charity and thence in faith be received amongst those in heaven who are in truth; derived from good.

Verses 35, 36. Since they are in the affection of good and truth, because proceeding from the Lord, and are averse from what is evil and false, because proceeding from themselves, and thus are in humiliation grounded in self-acknowledgment, and thence in all the offices of charity.

Verses 37, 38, 39. And yet if they had seen the Lord Himself in all the offices of charity, every one would have done them, but not from love to Him, but from fear, nor for the sake of Him, but for the sake of themselves.

Verse 40. Nevertheless the truth is that the Lord is present with those who are in the good of love and charity because He is in that good itself.

Verse 41. But they who are in faith and not in charity, will then avert themselves from all good and truth, and convert themselves to what is evil and false, and remain in the craving of infernal evil.

Verses 42, 43. Since they have never been in the affection of good and truth because proceeding from the Lord, nor averse from what is evil and false because proceeding from themselves, nor in humiliation grounded in self-acknowledgement, nor in any offices of charity thence derived.

Verse 44. And yet in the external form they have done those offices, but not from a principle of love to the Lord, but from fear, thus not for the sake of Him, but of themselves.

Verse 45. For they who are not in the affection of good and truth from the Lord, are not influenced by love to the Lord, but by self-love.

Verse 46. All such therefore will be everlastingly tormented by the concupiscences of evil, but they who are in the good of charity, will have life from that good, because it is from the Lord, who is the life itself.

6914. 'And I will give this people favour in the eyes of the Egyptians means fear, on account of the plagues, which those steeped in falsities had of those belonging to the spiritual Church. This is clear from the meaning of 'giving favour' as fear on account of the plagues, dealt with below; from the representation of the children of Israel, to whom 'people' refers here, as those belonging to the spiritual Church, dealt with in 6637; and from the representation of 'the Egyptians' as those who are steeped in falsities, often dealt with already. The fact that 'giving favour in the eyes of the Egyptians' means fear on account of the plagues that is present in those steeped in falsities is clear when one understands the matters described in the internal sense; for the subject is those who are steeped in falsities, meant by 'the Egyptians' - with the truths and forms of good which are to be taken away from them and passed on to those who belong to the spiritual Church. And since the subject is those who are steeped in falsities, 'favour' does not mean favour, for people who are steeped in falsities and evils do not feel in any way at all disposed to show favour towards anyone. If they treat anyone well or do not treat him badly they do so through fear of 'plagues'; these are the reason for their show of favour. This favour is the kind meant here in the internal sense. The internal sense displays things as they really are, not as they are made to stand in the letter, and makes every detail relevant to the subject. The truth of this is also evident from what follows regarding the Egyptians, where it is evident that they did not let the children of Israel go out of any disposition to show them favour, only out of fear on account of further plagues, Exodus 11:1; 12:33.

[2] These two verses, when they say that the women of Israel were to ask the Egyptian women for silver, gold, and clothes, refer to 'the plundering' of the Egyptians. And because what is meant by this cannot at all be known except from a revelation describing things that take place in the next life - for the internal sense contains the kinds of things that take place among angels and spirits - the matter must therefore be discussed. Before the Lord's Coming the lower parts of heaven had been occupied by evil genii and spirits; but afterwards they were driven out from there and that region was given to those who belonged to the spiritual Church, see above in 6858. As long as the evil genii and spirits were there they were under constant watch by angels belonging to a higher heaven and were thereby restrained from committing evil deeds openly. At the present day too some who are more devious than others because they mislead people by their pretence of innocence and charity are under watch by celestial ones, and so long as they are under it they are held back from their unspeakable tricks. They are directly overhead; but the celestial angels under whose watch they are kept are even higher. This has allowed me to know what the situation was like of the evil genii and spirits who occupied the lower region of heaven before the Lord's Coming; during that time they were held back by angels belonging to a higher heaven from committing evil deeds openly.

[3] But as for the way in which they were held back from committing evil deeds openly, this too I have been allowed to know. They were kept in check by external restraints, which were fear of the loss of position and reputation, and fear that they would be deprived of places they hold in that region of heaven and would be thrust down into hell; and at that time good yet simple spirits were attached to them. It was like what happens with people in the world. Even though inwardly they may be devils those external restraints force them to keep up a pretence of honourableness and righteousness and to do good. And to ensure that they go on behaving in these ways spirits who are governed by simple good are attached to them. The situation was similar with the evil who were in the lower region of heaven before the Lord's Coming. At that time too they could be driven by selfish kinds of love to speak what was true and do what was good. They were not unlike wicked priests, indeed even very wicked ones, who inwardly are devils, but who can proclaim the teachings of their Church with such passion and seeming zeal that they move the hearts of their hearers to godliness. Yet all the while they are ruled by self-love and love of the world, for the thought of their own position and gain reigns in every part of them and is what fires them to proclaim those teachings in such a way. There are evil spirits present with them, ruled by the same kind of love and consequently thinking in the same kind of way, who lead them; but good yet simple spirits are attached to them. From all this one may recognize what the state of heaven was like before the Lord's Coming.

[4] But after the Lord's Coming the states of heaven and hell were completely altered; for then the evil genii and spirits who occupied the lower region of heaven were cast down and were replaced by those raised up there who belonged to the spiritual Church. At that time the evil who were cast down had the external restraints taken away from them, which, as stated above, were fear of the loss of position and gain and deprivation of places they hold in that region. They were thus left to their inner selves, which were entirely devilish and hellish, and so were banished to the hells. The removal of external restraints is effected in the next life by withdrawing the good spirits who have been attached to them; and when they have been withdrawn the evil can no more maintain any pretence of goodness, righteousness, or honourableness, but can only behave in accord with what they had been like inwardly in the world, that is, in accord with what they had really thought and desired, which they had concealed from others there, their only wish being to do what is evil. The good yet simple spirits who were withdrawn from those evil spirits were assigned or attached to those who belonged to the spiritual Church, to whom that region of heaven was given as a possession. This is why they were enriched with the truths and forms of good which the evil genii and spirits had had previously. Enrichment with truths and forms of good is effected in the next life by means of the attachment of spirits with whom truth and goodness are present; for communication is effected through them.

[5] These things are what are meant by the statement that the children of Israel would not go out of Egypt empty-handed, and that a woman should ask of her female neighbour, and of the female guest in her house, vessels of silver, vessels of gold, and clothes, and in so doing would plunder the Egyptians. Anyone can see that unless the kinds of things described above had been represented the Divine would never have commanded them to use that kind of guile against the Egyptians; for all behaviour like that is very far removed from the Divine. But since those people were completely representative they were allowed by the Divine, because such a thing would be done to the evil in the next life, to act in that kind of way. It should be recognized that very many things which were commanded by Jehovah or the Lord do not in the internal sense mean things that were commanded by Him but those that were permitted.