diff --git a/cli/nep_test/nep17_test.go b/cli/nep_test/nep17_test.go
index beed51a95a..9428b8d06a 100644
--- a/cli/nep_test/nep17_test.go
+++ b/cli/nep_test/nep17_test.go
@@ -3,6 +3,7 @@ package nep_test
 import (
 	"io"
 	"math/big"
+	"os"
 	"path/filepath"
 	"slices"
 	"strconv"
@@ -34,39 +35,99 @@ func TestNEP17Balance(t *testing.T) {
 	e.Run(t, args...)
 	e.CheckTxPersisted(t)
 
-	cmdbalance := []string{"neo-go", "wallet", "nep17", "balance"}
-	cmdbase := append(cmdbalance,
-		"--rpc-endpoint", "http://"+e.RPC.Addresses()[0],
-		"--wallet", testcli.TestWalletMultiPath,
+	var checkAcc1NEO = func(t *testing.T, e *testcli.Executor, line string) {
+		if line == "" {
+			line = e.GetNextLine(t)
+		}
+		balance, index := e.Chain.GetGoverningTokenBalance(testcli.TestWalletMultiAccount1Hash)
+		e.CheckLine(t, line, "^\\s*NEO:\\s+NeoToken \\("+e.Chain.GoverningTokenHash().StringLE()+"\\)")
+		e.CheckNextLine(t, "^\\s*Amount\\s*:\\s*"+balance.String()+"$")
+		e.CheckNextLine(t, "^\\s*Updated\\s*:\\s*"+strconv.FormatUint(uint64(index), 10))
+	}
+	var checkAcc1GAS = func(t *testing.T, e *testcli.Executor, line string) {
+		if line == "" {
+			line = e.GetNextLine(t)
+		}
+		e.CheckLine(t, line, "^\\s*GAS:\\s+GasToken \\("+e.Chain.UtilityTokenHash().StringLE()+"\\)")
+		balance := e.Chain.GetUtilityTokenBalance(testcli.TestWalletMultiAccount1Hash)
+		e.CheckNextLine(t, "^\\s*Amount\\s*:\\s*"+fixedn.Fixed8(balance.Int64()).String()+"$")
+		e.CheckNextLine(t, "^\\s*Updated:")
+	}
+	var checkAcc1Assets = func(t *testing.T, e *testcli.Executor) {
+		e.CheckNextLine(t, "^Account "+testcli.TestWalletMultiAccount1)
+		// The order of assets is undefined.
+		for range 2 {
+			line := e.GetNextLine(t)
+			if strings.Contains(line, "GAS") {
+				checkAcc1GAS(t, e, line)
+			} else {
+				checkAcc1NEO(t, e, line)
+			}
+		}
+	}
+
+	var (
+		cmdbase      = []string{"neo-go", "wallet", "nep17", "balance", "--rpc-endpoint", "http://" + e.RPC.Addresses()[0]}
+		addrparams   = []string{"--address", testcli.TestWalletMultiAccount1}
+		walletparams = []string{"--wallet", testcli.TestWalletMultiPath}
 	)
-	cmd := append(cmdbase, "--address", testcli.TestWalletMultiAccount1)
-	t.Run("excessive parameters", func(t *testing.T) {
-		e.RunWithError(t, append(cmd, "--token", "NEO", "gas")...)
+	t.Run("Bad wallet", func(t *testing.T) {
+		e.RunWithError(t, append(cmdbase, "--wallet", "/dev/null")...)
+	})
+	t.Run("empty wallet", func(t *testing.T) {
+		tmpDir := t.TempDir()
+		walletPath := filepath.Join(tmpDir, "emptywallet.json")
+		require.NoError(t, os.WriteFile(walletPath, []byte("{}"), 0o644))
+		e.RunWithError(t, append(cmdbase, "--wallet", walletPath)...)
 	})
-	t.Run("NEO", func(t *testing.T) {
-		b, index := e.Chain.GetGoverningTokenBalance(testcli.TestWalletMultiAccount1Hash)
-		checkResult := func(t *testing.T) {
+	t.Run("no wallet or address", func(t *testing.T) {
+		e.RunWithError(t, cmdbase...)
+	})
+	for name, params := range map[string][]string{
+		"address only":        addrparams,
+		"address with wallet": slices.Concat(walletparams, addrparams),
+	} {
+		var cmd = append(cmdbase, params...)
+		t.Run(name, func(t *testing.T) {
+			t.Run("all tokens", func(t *testing.T) {
+				e.Run(t, cmd...)
+				checkAcc1Assets(t, e)
+				e.CheckEOF(t)
+			})
+			t.Run("excessive parameters", func(t *testing.T) {
+				e.RunWithError(t, append(cmd, "--token", "NEO", "gas")...)
+			})
+		})
+		t.Run("NEO", func(t *testing.T) {
+			checkResult := func(t *testing.T) {
+				e.CheckNextLine(t, "^\\s*Account\\s+"+testcli.TestWalletMultiAccount1)
+				checkAcc1NEO(t, e, "")
+				e.CheckEOF(t)
+			}
+			t.Run("Alias", func(t *testing.T) {
+				e.Run(t, append(cmd, "--token", "NEO")...)
+				checkResult(t)
+			})
+			t.Run("Hash", func(t *testing.T) {
+				e.Run(t, append(cmd, "--token", e.Chain.GoverningTokenHash().StringLE())...)
+				checkResult(t)
+			})
+		})
+		t.Run("GAS", func(t *testing.T) {
+			e.Run(t, append(cmd, "--token", "GAS")...)
 			e.CheckNextLine(t, "^\\s*Account\\s+"+testcli.TestWalletMultiAccount1)
-			e.CheckNextLine(t, "^\\s*NEO:\\s+NeoToken \\("+e.Chain.GoverningTokenHash().StringLE()+"\\)")
-			e.CheckNextLine(t, "^\\s*Amount\\s*:\\s*"+b.String()+"$")
-			e.CheckNextLine(t, "^\\s*Updated\\s*:\\s*"+strconv.FormatUint(uint64(index), 10))
-			e.CheckEOF(t)
-		}
-		t.Run("Alias", func(t *testing.T) {
-			e.Run(t, append(cmd, "--token", "NEO")...)
-			checkResult(t)
+			checkAcc1GAS(t, e, "")
 		})
-		t.Run("Hash", func(t *testing.T) {
-			e.Run(t, append(cmd, "--token", e.Chain.GoverningTokenHash().StringLE())...)
-			checkResult(t)
+		t.Run("Bad token", func(t *testing.T) {
+			e.Run(t, append(cmd, "--token", "kek")...)
+			e.CheckNextLine(t, "^\\s*Account\\s+"+testcli.TestWalletMultiAccount1)
+			e.CheckNextLine(t, `^\s*Can't find data for "kek" token\s*`)
+			e.CheckEOF(t)
 		})
-	})
-	t.Run("GAS", func(t *testing.T) {
-		e.Run(t, append(cmd, "--token", "GAS")...)
-		e.CheckNextLine(t, "^\\s*Account\\s+"+testcli.TestWalletMultiAccount1)
-		e.CheckNextLine(t, "^\\s*GAS:\\s+GasToken \\("+e.Chain.UtilityTokenHash().StringLE()+"\\)")
-		b := e.Chain.GetUtilityTokenBalance(testcli.TestWalletMultiAccount1Hash)
-		e.CheckNextLine(t, "^\\s*Amount\\s*:\\s*"+fixedn.Fixed8(b.Int64()).String()+"$")
+	}
+	t.Run("inexistent wallet account", func(t *testing.T) {
+		var cmd = append(cmdbase, walletparams...)
+		e.RunWithError(t, append(cmd, "--address", "NSPCCpw8YmgNDYWiBfXJHRfz38NDjv6WW3")...)
 	})
 	t.Run("zero balance of known token", func(t *testing.T) {
 		e.Run(t, append(cmdbase, []string{"--token", "NEO", "--address", testcli.TestWalletMultiAccount2}...)...)
@@ -77,24 +138,9 @@ func TestNEP17Balance(t *testing.T) {
 		e.CheckEOF(t)
 	})
 	t.Run("all accounts", func(t *testing.T) {
-		e.Run(t, cmdbase...)
+		e.Run(t, append(cmdbase, walletparams...)...)
 
-		e.CheckNextLine(t, "^Account "+testcli.TestWalletMultiAccount1)
-		// The order of assets is undefined.
-		for range 2 {
-			line := e.GetNextLine(t)
-			if strings.Contains(line, "GAS") {
-				e.CheckLine(t, line, "^\\s*GAS:\\s+GasToken \\("+e.Chain.UtilityTokenHash().StringLE()+"\\)")
-				balance := e.Chain.GetUtilityTokenBalance(testcli.TestWalletMultiAccount1Hash)
-				e.CheckNextLine(t, "^\\s*Amount\\s*:\\s*"+fixedn.Fixed8(balance.Int64()).String()+"$")
-				e.CheckNextLine(t, "^\\s*Updated:")
-			} else {
-				balance, index := e.Chain.GetGoverningTokenBalance(testcli.TestWalletMultiAccount1Hash)
-				e.CheckLine(t, line, "^\\s*NEO:\\s+NeoToken \\("+e.Chain.GoverningTokenHash().StringLE()+"\\)")
-				e.CheckNextLine(t, "^\\s*Amount\\s*:\\s*"+balance.String()+"$")
-				e.CheckNextLine(t, "^\\s*Updated\\s*:\\s*"+strconv.FormatUint(uint64(index), 10))
-			}
-		}
+		checkAcc1Assets(t, e)
 		e.CheckNextLine(t, "^\\s*$")
 
 		e.CheckNextLine(t, "^Account "+testcli.TestWalletMultiAccount2)
@@ -107,15 +153,6 @@ func TestNEP17Balance(t *testing.T) {
 		e.CheckNextLine(t, "^\\s*Updated:")
 		e.CheckEOF(t)
 	})
-	t.Run("Bad token", func(t *testing.T) {
-		e.Run(t, append(cmd, "--token", "kek")...)
-		e.CheckNextLine(t, "^\\s*Account\\s+"+testcli.TestWalletMultiAccount1)
-		e.CheckNextLine(t, `^\s*Can't find data for "kek" token\s*`)
-		e.CheckEOF(t)
-	})
-	t.Run("Bad wallet", func(t *testing.T) {
-		e.RunWithError(t, append(cmdbalance, "--wallet", "/dev/null", "-r", "test")...)
-	})
 }
 
 func TestNEP17Transfer(t *testing.T) {
diff --git a/cli/wallet/nep11.go b/cli/wallet/nep11.go
index 809e76c01d..3009e77326 100644
--- a/cli/wallet/nep11.go
+++ b/cli/wallet/nep11.go
@@ -51,9 +51,10 @@ func newNEP11Commands() []*cli.Command {
 		{
 			Name:      "balance",
 			Usage:     "Get address balance",
-			UsageText: "balance -w wallet [--wallet-config path] --rpc-endpoint <node> [--timeout <time>] [--address <address>] [--token <hash-or-name>] [--id <token-id>]",
-			Description: `Prints NEP-11 balances for address and assets/IDs specified. By default (no
-   address or token parameter) all tokens (NFT contracts) for all accounts in
+			UsageText: "balance [-w wallet] [--wallet-config path] --rpc-endpoint <node> [--timeout <time>] [--address <address>] [--token <hash-or-name>] [--id <token-id>]",
+			Description: `Prints NEP-11 balances for address and assets/IDs specified. One of wallet
+   or address must be specified, passing both is valid too. If a wallet is
+   given without an address all tokens (NFT contracts) for all accounts in
    the specified wallet are listed with all tokens (actual NFTs) insied. A
    single account can be chosen with the address option and/or a single NFT
    contract can be selected with the token option. Further, you can specify a
diff --git a/cli/wallet/nep17.go b/cli/wallet/nep17.go
index efbb5eadb4..4555855323 100644
--- a/cli/wallet/nep17.go
+++ b/cli/wallet/nep17.go
@@ -101,10 +101,11 @@ func newNEP17Commands() []*cli.Command {
 		{
 			Name:      "balance",
 			Usage:     "Get address balance",
-			UsageText: "balance -w wallet [--wallet-config path] --rpc-endpoint <node> [--timeout <time>] [--address <address>] [--token <hash-or-name>]",
-			Description: `Prints NEP-17 balances for address and tokens specified. By default (no
-   address or token parameter) all tokens for all accounts in the specified wallet
-   are listed. A single account can be chosen with the address option and/or a
+			UsageText: "balance [-w wallet] [--wallet-config path] --rpc-endpoint <node> [--timeout <time>] [--address <address>] [--token <hash-or-name>]",
+			Description: `Prints NEP-17 balances for address and tokens specified. One of wallet
+   or address must be specified, passing both is valid too. If a wallet is
+   given without an address all tokens for all accounts in this wallet are
+   listed. A single account can be chosen with the address option and/or a
    single token can be selected with the token option. Tokens can be specified
    by hash, address, name or symbol. Hashes and addresses always work (as long
    as they belong to a correct NEP-17 contract), while names or symbols (if
@@ -217,30 +218,40 @@ func getNEP17Balance(ctx *cli.Context) error {
 }
 
 func getNEPBalance(ctx *cli.Context, standard string, accHandler func(*cli.Context, *rpcclient.Client, util.Uint160, string, *wallet.Token, string) error) error {
-	var accounts []*wallet.Account
+	var addresses []util.Uint160
 
 	if err := cmdargs.EnsureNone(ctx); err != nil {
 		return err
 	}
 	wall, _, err := readWallet(ctx)
 	if err != nil {
-		return cli.Exit(fmt.Errorf("bad wallet: %w", err), 1)
+		if !errors.Is(err, errNoPath) {
+			return cli.Exit(fmt.Errorf("bad wallet: %w", err), 1)
+		}
+	} else {
+		defer wall.Close()
 	}
-	defer wall.Close()
 
 	addrFlag := ctx.Generic("address").(*flags.Address)
 	if addrFlag.IsSet {
 		addrHash := addrFlag.Uint160()
-		acc := wall.GetAccount(addrHash)
-		if acc == nil {
-			return cli.Exit(fmt.Errorf("can't find account for the address: %s", address.Uint160ToString(addrHash)), 1)
+		if wall != nil {
+			acc := wall.GetAccount(addrHash)
+			if acc == nil {
+				return cli.Exit(fmt.Errorf("can't find account for the address: %s", address.Uint160ToString(addrHash)), 1)
+			}
 		}
-		accounts = append(accounts, acc)
+		addresses = append(addresses, addrHash)
 	} else {
+		if wall == nil {
+			return cli.Exit(errors.New("neither wallet nor address specified"), 1)
+		}
 		if len(wall.Accounts) == 0 {
 			return cli.Exit(errors.New("no accounts in the wallet"), 1)
 		}
-		accounts = wall.Accounts
+		for _, acc := range wall.Accounts {
+			addresses = append(addresses, acc.ScriptHash())
+		}
 	}
 
 	gctx, cancel := options.GetTimeoutContext(ctx)
@@ -290,13 +301,13 @@ func getNEPBalance(ctx *cli.Context, standard string, accHandler func(*cli.Conte
 			}
 		}
 	}
-	for k, acc := range accounts {
+	for k, addr := range addresses {
 		if k != 0 {
 			fmt.Fprintln(ctx.App.Writer)
 		}
-		fmt.Fprintf(ctx.App.Writer, "Account %s\n", acc.Address)
+		fmt.Fprintf(ctx.App.Writer, "Account %s\n", address.Uint160ToString(addr))
 
-		err = accHandler(ctx, c, acc.ScriptHash(), name, token, tokenID)
+		err = accHandler(ctx, c, addr, name, token, tokenID)
 		if err != nil {
 			return cli.Exit(err, 1)
 		}
@@ -321,6 +332,9 @@ func printAssetBalance(ctx *cli.Context, balance result.NEP17Balance) {
 }
 
 func getMatchingToken(ctx *cli.Context, w *wallet.Wallet, name string, standard string) (*wallet.Token, error) {
+	if w == nil {
+		return getMatchingTokenAux(ctx, nil, 0, name, standard)
+	}
 	return getMatchingTokenAux(ctx, func(i int) *wallet.Token {
 		return w.Extra.Tokens[i]
 	}, len(w.Extra.Tokens), name, standard)