During the bud stage the inflorescence of Crassula tomentosa var. tomentosa still bears its otherwise spaced flower clusters up the stem close together.
The small stem-leaves are ciliate, i.e. notably longer hairs grow in rows on their margins than on the succulent blade-bodies (and on the sepals). A stem-leaf subtends every branch of a bud cluster. Buds by now show only yellow-green sepals in various sizes, depending on the development of the bud.
Flowering happens from late winter through spring to early summer. The photo was taken in September (Frandsen, 2017; Smith, et al, 2017; Bond and Goldblatt, 1984; iNaturalist).