The dynamics of a thin layer of liquid, squeezed between a flat solid substrate and an infinitely-thick layer of saturated vapor, are examined. The liquid and vapor are two phases of the same fluid, governed by the diffuse-interface model. The substrate is maintained at a fixed temperature -but in the bulk of the fluid, temperature variations are allowed. The slope ε of the liquid/vapor interface is assumed to be small, as is its thickness relative to that of the film. Three asymptotic regimes are identified, depending on the vapor-toliquid density ratio ρ v /ρ l . If ρ v /ρ l ∼ 1 (which implies that the temperature is comparable, but not necessarily close, to the critical value), the evolution of the interface is driven by the vertical flow due to liquid/vapor phase transition, with the horizontal flow being negligible. In the limit ρ v /ρ l → 0, it is the other way around, and there exists an intermediate regime, ρ v /ρ l ∼ ε 4/3 , where the two effects are of the same order. Only the ρ v /ρ l → 0 limit is mathematically similar to the case of incompressible (Navier-Stokes) liquids, whereas the asymptotic equations governing the other two regimes are of different types.