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.

126. And I will give thee the crown of life, signifies wisdom and eternal happiness therefrom. This is evident from the signification of "crown," as being wisdom, in reference to those who are in the spiritual affection of the knowledges of truth and good (of which more in what follows); and from the signification of "life," as being eternal happiness, which is also called life eternal. Those who are in the spiritual affection of truth and good, and who are here treated of, have eternal happiness, because heaven with man is implanted by means of the knowledges of truth and good from the Word. He who believes that heaven is implanted by other means is much deceived; for man is born merely natural, with the faculty of becoming spiritual, and he becomes spiritual by means of truths from the Word and a life according to them. Who can ever become spiritual unless he has some knowledge of the Lord, of heaven, of the life after death, of faith, and of love, and of the other things that are means of salvation? If man had no knowledge of these things he would remain natural; and a merely natural man can have nothing in common with the angels of heaven, who are spiritual. Man has two minds, one exterior, the other interior.

The exterior mind is called the natural mind, but the interior is called the spiritual mind. The former or natural mind is opened by means of the knowledges of the things that are in the world; but the latter or spiritual mind by means of the knowledges of the things that are in heaven, which the Word teaches, and the church from the Word; by means of these man becomes spiritual when he knows them and lives according to them.

[2] This is meant by the Lord's words in John:

Except a man has been born of water and of the Spirit, he cannot enter into the kingdom of God (John 3:5).

"Water" signifies the truths of faith, and "spirit" a life according to them (See above, n. 71); and in The Doctrine of the New Jerusalem 202-209). Most people at this day believe that they are to come into heaven solely by virtue of holy worship in temples and by adorations and prayers; but such of them as do not care for the knowledges of truth and good from the Word, and who fail to imbue with these the life, as well as the memory, remain natural as before, and do not become spiritual; for their holy worship, adorations, and prayers, do not proceed from any spiritual origin; since their spiritual mind has not been opened by the knowledges of spiritual things and a life according to them, but is empty; and worship that proceeds from what is empty is merely natural gesture, with nothing spiritual in it. If such persons are insincere and unjust in respect to moral and civil life, their holy worship, adorations, and prayers have within them what repels heaven from them, instead of opening heaven to them as they believe; for their holy worship is like a vessel containing things putrid and filthy, which are oozing forth, or like a splendid garment investing a body covered with ulcers. I have seen many thousands of such cast into hell. But wholly different are holy worship, adorations, and prayers with those who are in the knowledges of truth and good and in a life according to them; with such these acts are pleasing to the Lord, for they are the effects wrought by their spirit in the body, or the effects of their faith and love, thus they are not merely natural gestures, but spiritual acts.

From this it can be seen that the knowledges of truth and good from the Word, and a life according to them, alone make man spiritual; and that in him who is thereby made spiritual, angelic wisdom from the Lord can be implanted together with eternal happiness. Angels derive happiness from no other source than from wisdom.

[3] A "crown" signifies wisdom, because all things by which man is clothed or distinguished derive their signification from the part of man that they clothe or distinguish (See Arcana Coelestia 9827), and "crown" signifies wisdom, because it is a sign upon the head, and "head" in the Word signifies wisdom, for there wisdom resides. So in Ezekiel:

I decked thee with ornaments, I put bracelets upon thy hands; and a chain upon thy throat. And I put a jewel upon thy nose, and earrings in thine ears, and a crown of adorning upon thy head (Ezekiel 16:11, 12).

Jerusalem, which signifies the church, is here treated of, such as it was when it was established by the Lord; by these various insignia are meant, in the spiritual sense, such things as are of the church; and each one takes its signification from the part to which it is applied, and "the crown of adorning" here means wisdom. (But what is meant by "ornament," may be seen in Arcana Coelestia 10536, 10540; by "bracelets," n. 3103, 3105; by "chain" n . 5320; by "jewel," n. 4551; by "earrings," n. 4551, 10402) Wisdom, which is from the knowledges of truth and good from the Word and from a life according to them, is likewise signified by "crown" in many other passages in the Word (as in Isaiah 28:5; Jeremiah 13:18; Lamentations 5:15, 16; Ezekiel 21:25, 26; 23:42; Zechariah 6:11-14; Psalms 89:38, 39; Psalms 132:17, 18; Job 19:9; Revelation 3:11; 4:4). The crowning of kings is from ancient times, when men were familiar with representatives and significatives, and it was known that "kings" represented the Lord in respect to Divine truth, and that a "crown" was intended to signify wisdom (that "kings" represented the Lord in respect to Divine truth, see Arcana Coelestia 1672, 2015, 2069, 3009, 4581, 4966, 5068, 6148); that those that are in truths are called "kings" and "king's sons" see above n. 31; and as these are called "kings" in the Word, and kings have crowns, so here where these are treated of it is said that they were to receive "the crown of life."