In that case, maybe someone should come in and translate the commentary properly? If I knew Japanese I'd do it myself, but...
a quick google translate brought up this:
Sequence Sanae Tofuya
> Please give me a sequence-like illustration of a boy of elementary school age growing up to Sanae Tofuya! I got a niche theme, so I drew it on a new computer.
tags on the image also include
性転換sex change 急成長rapid growth 性転換過程sex conversion process 他者変身transformation into someone else 大人化becoming an adult AP
like shade said, seems this all heavily implies this is boy to sanae transformation.