The profile of a critical hole in an undercooled wetting layer is determined by the saddle-point equation of a standard interface Hamiltonian supported by convenient boundary conditions. It is shown that this saddle-point equation can be mapped onto an autonomous dynamical system in a three-dimensional phase space. The corresponding flux has a polynomial form and in general displays four fixed points, each with different stability properties. On the basis of this picture we derive the thermodynamic behaviour of critical holes in three different nucleation regimes of the phase diagram.